Reboot the FCC

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[Commentary] We'll stifle the Skypes and YouTubes of the future if we don't demolish the regulators that oversee our digital pipelines. The Federal Communications Commission, created to protect innovation, has an almost irresistible urge to protect the most powerful instead. President Obama should get Congress to shut down the FCC and similar vestigial regulators, which put stability and special interests above the public good. In their place, Congress should create something we could call the Innovation Environment Protection Agency (iEPA), charged with a simple founding mission: "minimal intervention to maximize innovation." The iEPA's core purpose would be to protect innovation from its two historical enemies—excessive government favors, and excessive private monopoly power. The iEPA's second task should be to assure that the nation's basic communications infrastructure spectrum— the wires, cables and cellular towers that serve as the highways of the information economy—remain open to new innovation, no matter who owns them. Beyond these two tasks, what's most needed from the iEPA is benign neglect. America's economic future depends upon restarting an engine of innovation and technological growth. A first step is to remove the government from the mix as much as possible. This is the biggest problem with communication innovation around the world, as too many nations who should know better continue to preference legacy communication monopolies. It is a growing problem in our own country as well, as corporate America has come to believe that investments in influencing Washington pay more than investments in building a better mousetrap. That will only change when regulation is crafted as narrowly as possible. Only then can regulators serve the public good, instead of private protection. We need to kill a philosophy of regulation born with the 20th century, if we're to make possible a world of innovation in the 21st.


Reboot the FCC