Asymmetrical Information

To the swift...

This is an interesting discussion of the need for airlines to adapt to post 9/11 realities. Southwest Airlines has proven itself once again as the most adaptable of the "notoriously pigheaded" group of U.S. air carriers. They even figured out a substitute for curbside check-in within a week after the attacks.

I only have one quibble with the author. The point applies to any business. The most flexible, the most entrepreneurial, they are the ones that adapt to sea changes. Entrenched organizations become the victims of Schumpeter's "creative destruction". Which sucks if you work at one, but is far outweighed by the benefits of living in an an economy that allows it to happen.