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In: Economics

Critically analyze the following statement with views of your own: “There is no substitute for an...

Critically analyze the following statement with views of your own: “There is no substitute for an airline pilot: Someone has to fly the plane. Therefore, an increase in the wage of airline pilots will not change the number of pilots used by the airlines (400-500 words for each answer)

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Answer:
There's no substitute for an airline pilot. No matter how programmed the plane is, pilot will need to be there always to require care of instruments. Increment within the wage paid to airlines will result in rise in cost of operation for aircraft since there are no substitutes and individuals cannot total preparation training of 200 hours which each pilot got to go through in exceptionally brief span of time. It makes request of pilot inelastic in the airline industry.
Indeed, in case industry need to pay more compensation to pilots, they should not fire pilots because they are exceptionally talented and take care of 350 individuals on board also they lookout of 1,000+ crore plane. Pilots expense exceptionally strong fee for their course, or we will say that it is one of the foremost costly course one can seek after fair to require care of so numerous things, industry ought to pay higher compensation to them such that newcomers have a motivating force to enter within the advertisement and supplant ancient matured pilots.
They are moreover medically fit and ought to experience full body therapeutic checkup on regular interval. All these things make pilot a special profession and pilots are more important which can result in rise in cost of operating when wage increases.

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