The closure of Jet Airways provides yet another opportunity to discuss the economics of one of the most important -- but also one of the most despised -- businesses in India: transport. Few know that in India not only is there a paucity of transport economists generally but also that there are no aviation economists at all.
In the absence of such economists, the whole transport sector is informed by the inadequate intellectual resources and opinion of railwaymen, road engineers, truckers, shippers, managers of ports and the staff of the DGCA.
This is absolutely ridiculous because transport is one of
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