COMMERCE SECRETARY DALEY AND CHAIR OF THE COUNCIL OF ECONOMIC
ADVISORS TO RELEASE REPORT ON TREMENDOUS GROWTH OF TELECOMMUNICATIONS INDUSTRY
Washington, D.C. -- Today, Secretary of Commerce William M. Daley and Council of Economic Advisors (CEA) Chair Janet Yellen announced the findings of the CEA report on the growth and competition in the telecommunications industry. The report documents the positive impact that the telecommunications industry has had on our nation's economy. The report also underscores the important role that President Clinton and Vice President Gore's National Information Infrastructure (NII) initiative played in promoting a telecommunications and information infrastructure that is competitive, based on private investment, and that benefits consumers.
"The report's findings show that the principles of the NII and the Telecommunications Act are working. By continuing to enforce these principles, we can -- and will -- continue to create the right climate for investment, so that all Americans will reap the benefits of high-speed networks, new products and services, and lower prices," said Secretary Daley.
This report describes developments in the U.S. telecommunications market since 1993. It presents an overview of growth of the industry as a whole; discusses key developments in the long-distance, local, wireless, and equipment sectors; and describes the dramatic rise in use of the Internet and the increasingly interdependent relationship between the information and telecommunications industries.
The goal of this report is not to examine the economic issues underlying specific regulatory proceedings, nor is the purpose to analyze whether particular refinements to current laws or regulations would be useful. It is instead to discuss overall trends and to assess the broad impact of the current regulatory framework. For example: