I decided to do some reading in the telecom regulation area. A lot more of this rides on the FCC than I'd made it appear below, because the 1996 Telecommunications Act allows the FCC simply to forbear from regulating in most (but not all) areas.
There would still be statutory and administrative law burdens applying to any FCC decision not to regulate. Also, it can't forbear from applying sections 251(c) (interconnection obligations specific to ILECs) and 271 (requiring the BOCs to open competition in their own territories before they can provide interLATA long distance service) of the Act.
I get the impression that much of the push from the new technology sector and its theorists would involve the FCC choosing to forbear from regulating or choosing much more relaxed regulations.
I'll be doing more detailed reading in this area, but I don't think I'll talk about it here. It's not really what I came here to talk about.
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