US airline pilots getting stiffed

According to the Wall Street Journal, "Starting pilot salaries at 14 US regional carriers average $22,400 with some paying as little as $15,000"

At one time Pilots were getting $50 to $60, 000. What went wrong?

“Government and co-operation are in all things the laws of life. Anarchy and competition, the laws of death.” John Ruskin (1819 - 1900)