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Economics of Telecommunications Systems (Hardcover, New)
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Economics of Telecommunications Systems (Hardcover, New)
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The process of formulating and implementing telecommunications
policy in the United States often seems chaotic and disorganised,
with overlapping responsibility and frequent conflicts among
federal and state regulators, Congress, the Administration, and the
Federal judiciary. There has never been a consensus on what should
change and what should remain unaltered. Telecommunications policy
has evolved gradually over a relatively long period of time,
resulting in a cumulative major transformation. It is still tied,
however, to the Communications Act of 1934. Actions have been taken
that have gradually moved policy from traditional public utility
regulation of a monopoly to greater reliance on market forces and
encouragement of competition. The policies are an amalgam
incorporating elements from a wide range of political and economic
views. There is nothing endemic in this transformation process to
guarantee that the resulting policies have led to greater economic
efficiency or that they are better in some subjective sense than
alternatives that are available. This being the case, what is very
useful is an ex post assessment of the policies that have been
implemented in order to evaluate their impact. An objective
evaluation of the impact of a policy affords an opportunity to make
adjustments to it based on the realised economic consequences. This
approach to policy making can be looked upon as a learning-by-doing
exercise. In this book a number of objective studies based on data
from various telecommunications systems are presented. These
studies discuss and evaluate policies that have been implemented.
In a number of instances, the policies have been misguided.
Recommendations to correct the most egregious problems are offered.
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