Competition and Chaos: U.S. Telecommunications Since the by Robert W. Crandall

By Robert W. Crandall

While Congress handed the 1996 Telecommunications Act, legislators expected that the decreased regulatory obstacles could result in elevated pageant between U.S. telecommunications companies, and, in flip, the recent pageant might force innovation and gain financial merits for either American shoppers and telecommunications services. however the laws had a markedly various impression. whereas a few of the extra competitive services loved sharp momentary rises in inventory marketplace values, they quickly confronted unexpected cave in, leaving shoppers with very little long term gain.

In pageant and Chaos , Robert W. Crandall analyzes the influence of the 1996 act on fiscal welfare within the usa. He additionally examines how the act and its antecedents have affected the main telecommunications prone, a few of whom at the moment are a threatened species, stuck in a downward spiral of declining costs and monstrous losses. within the wake of the 2001-02 telecom inventory marketplace cave in, the is getting ready for an extreme conflict for marketplace proportion between 3 units of surviving providers: the instant businesses, the neighborhood (largely Bell) phone businesses, and the most important cable tv operators. None is guaranteed a transparent route to dominance within the force to draw buyers to an increasing array of voice, info and audio providers. even supposing the telecom inventory industry cave in is now historical past and the survivors are making an investment once more, Crandall concludes that regulators did not adapt to the chaos to which they contributed till the courts compelled them to take action.

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Competition and Chaos: U.S. Telecommunications Since the 1996 Telecom Act

Whilst Congress handed the 1996 Telecommunications Act, legislators expected that the lowered regulatory obstacles may result in elevated festival between U. S. telecommunications companies, and, in flip, the hot festival could force innovation and gain monetary advantages for either American shoppers and telecommunications companies.

Additional info for Competition and Chaos: U.S. Telecommunications Since the 1996 Telecom Act

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03-1617-6 CH03 3/9/05 4:19 PM Page 29 The First Eight Years under the New Law 29 companies have an opportunity to exploit a major new revenue source if regulators will create an environment that allows them to do so. Regulatory Uncertainty States continue to regulate local retail rates much as they did in 1996. The regulation of wholesale rates, required by the 1996 act, is still evolving because of continuing legal challenges. The unbundling rules are still being rewritten after three previous sets of rules were overturned on appeal, and the FCC is now reconsidering its forward-looking cost rules for pricing the unbundled elements.

As figure 3-4 shows, total revenues of the local exchange companies and long-distance carriers have been static since 1996. ” The lack of revenue growth does not mean that there was no real output growth in telecommunications—which was actually substantial, 03-1617-6 CH03 3/9/05 4:19 PM Page 21 The First Eight Years under the New Law 21 Table 3-1. spire FastComm ICG Communications ITC^DeltaCom Knology Metromedia Fiber Network McLeod USA Mpower Network Plus New Global Telecom NorthPoint NTL RCN Rhythms NetConnections RSL Song Networks XO Communications WINfirst Yipes Communications Zephion Wireless carriers Advanced Radio Telecom GlobalStar Iridium Metricom/Ricochet Motient Nextwave Telecom OmniSky StarBand Teligent Winstar Source: Converge!

03-1617-6 CH03 22 3/9/05 4:19 PM Page 22 The First Eight Years under the New Law Figure 3-3. S. Telecommunications Sector, 1987–2001 Index, 1996 = 100 200 Investment 150 100 Gross product 50 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 Source: BEA (2003). Productivity Growth Perhaps the most striking aspect of the IT revolution of the late 1990s was the decline in productivity growth in wired telecommunications services (see figure 3-6). S. productivity exploded in 1996–2000, rising by more than two-thirds Figure 3-4.

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