Alas, Locke's industry-centric view isn't isolated. When I saw the rant, I was immediately reminded by
this Freakonomics post by a pilot named Steve.
As you might expect, the comments are similar to the ones here. Except for the civility - though there would have been moderation at the NYT for the more extreme epithets, of course.
Locke, you say that the airline industry is demand-driven - that demand for cheaper flights is driving ticket prices down and down. However, capitalism dictates that businesses try to maximize profits, and charge the highest price that the market would bear. Since this isn't happening, then this is obviously a supply-side issue. Though it is an oversimplification, I believe the major reason why wages are driven down is simply because there are too many pilots.
Besides, just because you're underpaid doesn't mean you intend to kill yourself. I'm sure that even if the airline company doesn't value the lives of passengers, you value your own while flying, and will do your darnedest best to not crash.
How ya doing, buddy?