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</v:background></xml><![endif]--><div class=WordSection1><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:14.0pt;font-family:"Bookman Old Style","serif";color:#1F497D'>Many of you may have seen this article from the Baller-Herbst list, but I thought these excerpts were worth passing along to further interest those who missed it.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:14.0pt;font-family:"Bookman Old Style","serif";color:#1F497D'>Carroll<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:14.0pt;font-family:"Bookman Old Style","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-size:24.0pt;font-family:"Times New Roman","serif";color:windowtext'>Nobel-Winning Message for the FCC<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-family:"Times New Roman","serif";color:windowtext'>3 Oct 14, 2014<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-family:"Times New Roman","serif";color:windowtext'>By <a href="http://www.bloombergview.com/contributors/susan-p-crawford"><span style='color:blue'>Susan Crawford</span></a> <o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-family:"Times New Roman","serif";color:windowtext'>Bloomberg View<o:p></o:p></span></b></p><p class=MsoNormal><span style='font-family:"Times New Roman","serif";color:windowtext'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:14.0pt;font-family:"Bookman Old Style","serif";color:windowtext'>Jean Tirole's <a href="http://www.bloomberg.com/news/2014-10-13/jean-tirole-wins-2014-nobel-economics-prize-academy-says.html"><span style='color:blue'>Nobel Prize</span></a> in Economic Sciences is being celebrated on both sides of the Atlantic by academics and economists. But there is no joy in the power circles of U.S. telecommunications policy. More than a decade ago, federal policy makers turned their backs on Tirole's sensible assessments of private communications utilities -- and with disastrous results.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-size:14.0pt;font-family:"Bookman Old Style","serif";color:windowtext'>Tirole's insight was that any company controlling physical lines into homes and businesses, left to its own devices, would act as a natural monopoly, extracting tribute from every other business and customer that depends on communications capacity. To constrain that power, regulators might need to separate wholesale and retail communications-access services, and require interconnection with other networks.<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-family:"Bookman Old Style","serif";color:#1F497D'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-family:"Bookman Old Style","serif";color:#1F497D'>Full article here: </span></b><b><span style='font-family:"Times New Roman","serif";color:windowtext'><a href="http://www.bloombergview.com/articles/2014-10-14/nobel-winning-message-for-the-fcc">http://www.bloombergview.com/articles/2014-10-14/nobel-winning-message-for-the-fcc</a><o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-family:"Bookman Old Style","serif";color:#1F497D'><o:p> </o:p></span></b></p></div></body></html>