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ISBN: 0815716176Издательство: Brookings Institution Press
Год издания: 2005
Book DescriptionWhen Congress passed the 1996 Telecommunications Act, legislators anticipated that the reduced regulatory barriers would lead to increased competition among U.S. telecommunications providers, and, in turn, the new competition would drive innovation and reap economic benefits for both American consumers and telecommunications providers. But the legislation had a markedly different impact. While many of the more aggressive providers enjoyed sharp short-term rises in stock market values, they soon faced sudden collapse, leaving consumers with little or no long-term benefit. In Competition and Chaos , Robert W. Crandall analyzes the impact of the 1996 act on economic welfare in the United States. He also examines how the act and its antecedents have affected the major telecommunications providers, some of whom are now a threatened species, caught in a downward spiral of declining prices and substantial losses. In the wake of the 2001-02 telecom stock market...