Information empires. (deregulation of the telecommunications industry)

Multinational Monitor, May, 1995 by Meeks, Brock N.

Congress is currently deliberating on legislation that would deregulate the telecommunications industry. Regional Bell holding companies, cable television broadcasting firms, long-distance telephone service providers and competitive access providers are all in favor of deregulation, arguing that such a move will benefit consumers. However, critics of deregulation contend that deregulation will lead to an uncontrolled increase in the prices of telecommunication services.

If Congress has its way, by this time next year, a high-tech gold rush will be unleashed on a U.S. industry that accounts for almost one-fifth of the country's entire gross domestic product: the $1 trillion telephone and television communications industry.

The prize nugget these prospectors are...