The End of Net Neutrality Isn't the End of the World

[Commentary] Eliminating net neutrality is, in the best and worst case scenarios, either necessary to keep the internet up and running, or will lead to a dystopian future where a few major corporations control our thoughts. The more prosaic reality, however, is that a world without net neutrality will work just fine. I am therefore not incensed (or very excited) about the Federal Communications Commission proposal. Proponents of net neutrality are typically worried about the monopoly and pricing power held by cable companies and other internet service providers. Options for access, however, are improving. Cellphone service is falling in price, smartphones are growing in size and quality, and Wi-Fi connections are all over the place. That said, a lot of monopoly power remains. But look at it this way: Those monopolists don’t want to distort the consumer experience too much, so they can keep charging high prices. I used to favor net neutrality, but I now think we’re at the point where we’ll do just fine without it. [Tyler Cowen is a professor of economics at George Mason University]