See my analysis of the FCC’s new “net neutrality” policy at RealClearMarkets:
Despite the Federal Communications Commission’s “net neutrality” announcement this week, the American Internet economy is likely to survive and thrive. That’s because the new proposal offered by FCC chairman Julius Genachowski is lacking almost all the worst ideas considered over the last few years. No one has warned more persistently than I against the dangers of over-regulating the Internet in the name of “net neutrality.”
In a better world, policy makers would heed my friend Andy Kessler’s advice to shutter the FCC. But back on earth this new compromise should, for the near-term at least, cap Washington’s mischief in the digital realm.
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The Level 3-Comcast clash showed what many of us have said all along: “net neutrality” was a purposely ill-defined catch-all for any grievance in the digital realm. No more. With the FCC offering some definition, however imperfect, businesses will now mostly have to slug it out in a dynamic and tumultuous technology arena, instead of running to the press and politicians.
