Abstract
Telecommunications has undergone two major revolutions and is currently undergoing its third and potentially its greatest revolution. In each case, technology and markets drove the revolution, pressing against existing public policy constraints. Eventually, public policy adapted to these revolutions, but at significant economic cost. Public policy will continue to play a crucial role in telecommunications for the foreseeable future, especially as it (perhaps) evolves into the multimedia information infrastructure envisioned by many. However, the appropriate public policy mechanisms to ensure the maximum contribution of this sector to national income will be significantly different from today's policy institutions.
Telecommunications; Regulation; Public Policy
JEL Classification: L96, L86, L51
Page