Abstract

Over the next few years, the Federal Communications Commission (FCC) will go down one of two paths. Its importance may fade to insignificance. Or the FCC may recast its mission and affirm the areas in which it retains unique expertise to address vital questions for the communications future. There are some problems that competition does not solve and general-purpose statutory frameworks do not address. These fall into three broad categories, each of which represents an enduring rationale for an expert regulatory agency: sectoral expertise, interconnection, and vestigial scarcities. The FCC should be as relevant as ever in a converged digital world of endless abundance. It just needs to redefine its objectives in order to maintain its relevance.

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