It's hard to make money running an airline - but Southwest was profitable every year for nearly five decades. How did it manage it? Business History hosts Jacob Goldstein and Robert Smith explore how a carrier with just four airplanes shuttling across Texas revolutionized flying by offering free whisky, cheap late-night tickets and free-for-all seating allocation.

Southwest developed a winning formula that forced its competitors to change how they did business - but then the Southwest model fell apart. Find out why.

Key books: Hard Landing by Thomas Petzinger Jr; Nuts by Kevin and Jackie Frieberg

Other sources: The Theory of Economic Regulation by George Stigler; Fortune Magazine: The Rapid Descent of Southwest Airlines; Southwest Airlines: When Herb Met Rollin.

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Was the world's most lovable car originally made just to please Hitler? And what links Thomas Edison and the electric chair? From Jacob Goldstein and Robert Smith of Planet Money fame comes Business History, a new show uncovering amazing stories from the history of business.

From sandals to suits, Business History brings to life the greatest innovations, the boldest entrepreneurs and the craziest mavericks in the annals of commerce and finance. We’ll explain why some company stocks soar, while other business ideas crash, and share the valuable lessons.

Starting November 5, listen to Business History wherever you get podcasts and get it ad-free with a Pushkin+ subscription - sign up on Business History Apple Podcasts show page or at pushkin.fm/plus

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