On this week’s episode of Lever Time: After the Southwest Airlines debacle that saw over 2,500 flights canceled and up to a million travelers stranded over the holidays, David Sirota explores how the U.S. airline industry became one of the most concentrated and despised industries in the country with the help of William J. McGee, a senior fellow for aviation and travel at the American Economic Liberties Project. William explains to David the history of airline deregulation and the federal preemption that left oversight of the industry solely in the questionable hands of the Secretary of Transportation (10:50).If you'd like access to Lever Time Premium, which includes extended interviews and bonus content, head over to LeverNews.com to become a supporting subscriber.If you’d like to leave a tip for The Lever, click the following link. It helps us do this kind of independent journalism. levernews.com/tipjarA rough transcript of this episode is available here.To learn more about advertising on The Lever's podcasts, email us at levertime@levernews.com.