Net Neutrality Is Dead. The Internet Is Next.

[Commentary] In essence, the Federal Communications Commission has given Internet service providers the legal power to blackmail any content provider that does not pay them with the threat of a slowdown in service delivery. The FCC clearly has put the ISPs profits above the benefits of consumers and of the overwhelming majority of businesses.

With the FCC’s vote, the Internet as we know it is over. For now on our ISPs might serve us faster content from financially robust companies that are able to pay arbitrary fees. Content and apps from new, small, and innovative companies or non-profits could be slow and unusable; news access will be distorted; and consumers’ choices will be diminished. The FCC is forcing consumers and businesses to pay a huge price in order to boost the profits of telecommunications and cable companies.

[Nicholas Economides is a professor of economics at the NYU Stern School of Business.]