BUZ LIVINGSTON: Location, location, location and good government

Published: Thursday, July 18, 2013 at 05:18 PM.

In 1988, the FAA issued regulations requiring that all newly developed transport aircraft use seats designed to take 16 times (16g) the force of gravity. The FAA found many people were killed after surviving the crash when their seats broke from the cabin floor.  Some survivors in California walked away luggage in tow. Yes, the plane’s nearly empty fuel tanks played a crucial role but the bottom line remains a few decades ago more people would have died. 

The airline industry could argue these policies reduce profits, after all airline companies go bankrupt more frequently than other industries.  Warren Buffett once said, “… if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.”

These common-sense regulations sprang from the Reagan epoch hardly a burdensome regulatory regime. And they improved our standard of living. Conversely, in the minimize regulations race to the bottom, we risk things blowing up like fertilizer plants in Texas or Gulf of Mexico oil wells. 

Buz Livingston, CFP offers hourly financial planning and fee-only investment management to clients along Florida’s Emerald Coast.  Contact him at 850-267-1068, Buz@LivingstonFinancial.net or www.LivingstonFinancial.net.

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