In Bootleggers & Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, economists Bruce Yandle and Adam Smith explain how money and morality are often combined in politics to produce arbitrary regulations benefiting cronies, while constraining productive economic activities by the general public.
Featuring Bill Barr, Executive Vice President and General Counsel, Verizon; and Adam Thierer, Director of Telecommunications Studies, Cato Institute.
The telecom industry is in regulatory turmoil. On March 2 the D.C. Circuit Court issued its third and most stinging rebuke of the FCC’s rules governing telephone network regulation. The Supreme Court has reviewed these rules twice and could revisit them again if the D.C. Circuit decision is appealed. This regulatory uncertainty is frequently blamed for the recent meltdown and slow recovery in the telecom market. When Congress passed the historic Telecommunications Act of 1996, few people imagined the protracted litigation battles that followed. How did we get here, and where should we go from here? Please join us for an examination of the recent ruling and what it means for the telecom industry and a broader discussion about what went wrong and what Congress should do about it.