Sunday, March 01, 2009

Hold on to your wallets, and your cell phone!

Back in September Peter Wallison wrote a piece debunking the myth that deregulation was the cause of our financial shortfalls these past couple of years. One thing that he noted was :

"It is correct to say that there has been significant deregulation in the U.S. over the last 30 years, most of it under Republican auspices. But this deregulation--in long-distance telephone rates, air fares, securities-brokerage commissions, and trucking, to name just a few sectors of the economy where it occurred--has produced substantial competition and innovation, driving down consumer costs and producing vast improvements and efficiencies in our economy."

Today I found this piece from Reuters affirming that the current administration is ready to reverse these trends. It's important to remember during this period of zeal for re-regulation that one of the effects of deregulation has been to bring prosperity to the masses. One of the most liberating technologies of the last decade has been affordable telecommunications and internet access.

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