ABSTRACT
One does not have to embrace the labor theory of value from Karl Marx, which attributes all value creation to labor, to believe the paramount importance of labor to the welfare of the airline industry. Labor relations have historically been very poor. Unions have succeeded in providing their members with exceptionally good working conditions and some of the highest salaries, for pilots at least, among all professions. As a consequence, labor contracts are unbelievably complex and generous to union members. Labor, of course, does not share such a view. An amusing way to express the union view is documented by an item posted on eBay December 18, 2004. The fact that management is often exceptionally incompetent does not mean that labor does not deserve their just reward. Pilots, especially, point out the split second decisions they are required to make which can affect the lives of hundreds.
