In 1984, the Department of Justice settled its antitrust case
against AT&T. The agreement, embedded in the Modification of
Final Judgment, led to a divestiture of the local telephone
exchanges from AT&T to the Regional Bell Operating Companies
(known as the Baby Bells). This agreement gave unprecedented power
over a major US industry to one man, Judge Harold Greene of the US
District Court of the District of Columbia. The Baby Bells could
not enter any line of business without approval from Judge Greene.
With technological change it became increasingly desirable for the
Baby Bells to enter different lines of business, but each attempt
was subject to legal challenge and lengthy, costly litigation. In
1994, the Baby Bells mounted a major legal challenge to the
Modification of Final Judgement (MFJ). As part of their strategy,
they asked leading scholars in the field to examine the costs and
benefits of the MFJ and provide evidence in the form of affidavits
regarding its effect. Using a cost-benefit framework, the
conclusion of the analysis is that the MFJ should be vacated and
competition should be allowed in the industry. Deregulating
Telecommunications draws together a group of leading practitioners
and academics in the fields of regulation, industrial organisation
and antitrust to explore:
- A cost-benefit analysis of the 1984 AT&T antitrust
settlement
- Theoretical and empirical studies that analyse the results of
the settlement from its inception in 1984 to 1994
- An explanation for the recent policy decisions to reduce the
amount of regulation in telecommunications
- Analysis vital to predicting the results of any deregulation in
telecommunications in the future
This bookwill prove invaluable to economists interested in
telecommunications, as well as those interested in antitrust and in
regulation.
General
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