What does economics say about updating the Communications Act?

[Commentary] As Congress is considering whether to overrule the Federal Communications Commission’s net neutrality vote, to write a new Communications Act, or both, it would be good to review what leading economic research has said about the issues.

• Research conclusion one: Regulations prohibiting fast lanes generally harm consumers.
• Research conclusion two: Regulations prohibiting fast lanes generally harm the economy.
• Research conclusion three: Regulations prohibiting fast lanes may lower network investment and content provider investment in some situations, but may not in others.
• Research conclusion four: Blocking harms customers if it keeps them from doing legal things that they want to do.

[Mark Jamison is the director and Gunter Professor of the Public Utility Research Center at the University of Florida’s Warrington College of Business. He served on the FCC transition team for President-elect Trump.]