The five largest US airlines have a combined liability of $27.5 trillion in frequent flyer awards—flights that can be obtained or other goods and services that can be delivered. Since American Airlines introduced this benefit a half century ago (1981), and others immediately copied it, has it worked out well for the airlines?

The airlines today count on some miles expiring, blackout periods and routes, some simply ignored and unfulfilled, and some being buried when their owners are. But the fact is the practice has not only created this vast potential debt, but also a legion of entitled, unhappy, demanding passengers who think they've actually been granted some royal duchy by a feudal lord.

The mere fact of arriving somewhere at 500 MPH and 35,000 feet in a metal tube, with (usually) all your belongings, has taken a rear seat (that is, “coach”) to whining and sniveling about poor food, baggage fees, the temerity of someone to recline a seat in front of them, lack of sufficient redeemable seats to fly at one's whim, and on and on.

Well, the airlines make billions on thes programs, including selling the points to banks. And how about those totally annoying pitches, while you're helpless in your seat, listening to flight attendants hawk credit card applications? Where's air turbulence when you need it?