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THE struggle over the world market for big jet aircraft makes for epic narrative. Involving billions of dollars and a great deal of national pride, the story of two industrial giants fighting each other—Boeing from the new world, Airbus from the old—is so gripping that there is nothing quite like it in global business. The cost of developing the product is astronomical, it takes years to come to market and is then in the air for just a generation. Coke versus Pepsi, Sony versus Samsung, Unilever versus Procter & Gamble—none of those battles has quite the same grandeur nor the same high stakes. Only Big Oil in its desperate search for new reserves comes close, but in that business there are several players, and the rules are mostly set by a producers' cartel.
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