In almost every way possible, the Telecommunications Act of 1996 has been an unmitigated failure. Whether judged against previous deregulatory initiatives or the Act's stated goal of promoting increased competition, investment, and entrepreneurialism within this sector, the Telecom Act has not lived up to its over-hyped billing. The reasons for this failure are numerous, and when explained in technical terms, appear quite complicated. In reality, however, what lies at the heart of the Telecom Act's failure is a rather simple concept which might best be described as "Chicken Little complex": a persistent and all-embracing apprehension held by legislators and regulators who fear that if they let go of the reins of power, the proverbial sky will fall on telecom companies and consumers.
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