Regulatory uncertainty is inefficient, wasting resources and harming consumers. Businesses are deterred from investing in new technology when an action that seems legal today may be deemed illegal tomorrow. As a result, the benefits to consumers of new technologies are delayed or may even be completely forgone.

For most of the twentieth century, regulation of telephone service changed little from a rate-return calculation on a monopoly provider. Regulatory practice of 1990 was easily predictable from the practice of 1940. But telecommunications regulation has changed a great deal in the last five years, and does not yet appear to have reached a stable equilibrium. In this environment, it is impossible to predict with any confidence the regulatory practices five years from now, much less fifty years from now.

This conference brings together business leaders and regulatory experts to discuss the possible contours of the future of telecommunications regulation.