An unsung success story: A forty-year retrospective on U.S. communications policy.

This paper looks back at forty years of U.S. communications policy, and concludes that all of the challenges that were salient when Telecommunications Policy published its first issue—the lack of competition in CPE, long distance, local telephone service, television networks, and multichannel video program distribution—have essentially been addressed. The other technology that has grown in importance since 1976—the Internet—is widely regarded as a raging success. Although no history is completely uniform, the past forty years illustrates the key considerations underlying the choice between whether to impose access regulations or whether to rely on facilities-based competition. Moreover, the paper considers the important role that U.S. courts have played in promoting competition and consumer welfare. In many cases, timely judicial intervention has forced regulators to retreat from positions that protected incumbents and limited competition. The paper concludes with outlooks on new issues and debates that will continue to arise. [ABSTRACT FROM AUTHOR]