The complete demise of competition in the industry, Thierer concludes, was brought about by the following forces: exclusionary licensing policies; protected monopolies for "dominant carriers"; guaranteed revenues or regulated phone companies; the mandated government policy of "universal telephone entitlement" which called for a single provider to more easily carry out regulatory commands; and rate regulation designed to achieve the socialistic objective of "universal service."
That free-market competition was the source of the telephone monopoly in the early twentieth century is the biggest lie ever told by the economics profession. The free market never "failed"; it was government that failed to permit free-market competition as it concocted its corporatist scheme to the benefit of the phone companies, at the expense of consumers and potential competitors.
no subject
The complete demise of competition in the industry, Thierer concludes, was brought about by the following forces: exclusionary licensing policies; protected monopolies for "dominant carriers"; guaranteed revenues or regulated phone companies; the mandated government policy of "universal telephone entitlement" which called for a single provider to more easily carry out regulatory commands; and rate regulation designed to achieve the socialistic objective of "universal service."
That free-market competition was the source of the telephone monopoly in the early twentieth century is the biggest lie ever told by the economics profession. The free market never "failed"; it was government that failed to permit free-market competition as it concocted its corporatist scheme to the benefit of the phone companies, at the expense of consumers and potential competitors.