Alfred Edward Kahn is obviously a gambling man. The outgoing chairman of the Civil Aeronautics Board says of his new job as anti-inflation chief: "The chances for success are far less than what I had [at the CAB]. I think we're dealing with something that's a hundred times more important, but the chances of success are one-thousandth."
If anyone can beat those odds, it may be Kahn. In just 16 months at the CAB, he shredded red tape into confetti, largely deregulated the nation's airlines and restored healthy competition along with lower fares. Economist Kahn is such an impassioned deregulator that...
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