On the Longreach

image

How fantastic is it that you can be anywhere else on the planet in about a day.

One of these days I’d like to look into the economics of jet travel, and how it was able to develop from the realm of the mega-rich into a practical business tool and a common holiday enabler.

I suspect that this plane, the 747-400 Longreach, has a lot to do with it….

Comments encouraged.

Advertisements

2 thoughts on “On the Longreach

  1. I have been extremely pleased with the worlds globalization. To think with out things like jets and the internet I would never be able to meet or speak with many people I know now because I never would even be able to interact with them reminds me I am glad to have lived with technology at least this good.

  2. The short answer to this question is that these changes have occured in part because we have become a lot richer over the past 100 years. This has driven the change for two reasons. The first reason is that our time has become a lot more valuable which means that people want to spend less time in transit. As a result, airplane makers have continued to release faster planes in order to capitalise on this consumer need.

    Our higher incomes has also caused the demand for flights to increase. One of the results of this has been the development of faster planes. This is due to the fact that one of the sources of technological progress is the ‘learning-by-doing’ idea. As the number of flights taken increases, we’ve been able to learn from all this experience. We’ve then been able to apply this knowledge to the development of faster and cheaper air travel.

    Another factor behind this change has been the extensive deregulation of the air travel market (see the Civil Aeronautics Board dissolution as an example). I can’t give more info because I haven’t read much into it. Sorry

    Unfortunately I can’t come up with a more detailed explanation due to the fact that my area of expertise is environmental economics, not transport economics.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s