It has become a truism in recent years that technological innovation lies at the core of a robust economy. Once an arcane matter for economists, innovation has moved from the back salons of corporate strategy to the grand ballroom of mainstream culture. Fueled by the World Wide Web and other electronic technologies, unknown entrepreneurs with big ideas have joined with investment bankers, multinational corporations, and Main Street investors on a relentless search for The New New Thing, as the title of Michael Lewis' book on Silicon Valley calls it.
The Fourteenth Annual Aspen Institute Conference on Telecommunications Policy explored the contentious issues of regulatory symmetry and asymmetry in the telecommunications industry. The core question was whether regulatory policy should be harmonized so that all similarly situated providers are treated the same way. Assuming that symmetrical treatment is desirable, exactly how should regulators approach the task?
It's a great honor to be this year's Catto Fellow and to be part of such impressive company. I'm grateful to Henry and Jessica Catto, whose generosity and thoughtful commitment to public dialogue have made this event possible.
New World,New Realities Much has changed in the international telecommunications environment since 1995, when the Aspen Institute convened the first annual Aspen Institute Roundtable on International Telecommunications (AIRIT): The Internet has reached critical mass, with credible forecasts that data communications soon will predominate over voice services for the first time; Internet-mediated telephone service has begun to challenge the traditional toll revenue-sharing arrangements and pricing systems based on voice services; Regional and global market opening trade initiatives have become a reality; Strategic industrial alliances have grown in importance as carriers strive to exploit new market access opportunities; and Deregulation and market liberalization have become more widespread in developed and developing nations alike.
The Internet is a driving force in global communications and commerce; as such, issues related to its governance and growth have broad implications that reach beyond those of traditional telecommunications services or networks. Unlike prior communications networks that carried primarily voice traffic, the Internet collects and distributes content and facilitates global and local/national commerce— which raises two types of questions: What purposes does the network serve for users? What barriers prevent or constrain such use?
Many observers consider 1998 to be a watershed year in the evolution of the global telecommunications industry. This view is based on the fact that two major changes in the international policy landscape have begun to clear away many longstanding barriers to competition in global networks and services.
Henry, for that generous introduction. I am proud to bear the title of Catto Fellow and if I were allowed to recite your biography as you have recited mine, you would know the source of my great pride. But like Harry Evans in a similar recent situation, (and now also his wife, Tina Brown), I am reminded of the New Yorker cartoon showing a partygoer being introduced at a cocktail party while enduring the urgent plea of a spouse: “Tell them who you WERE, dear. Tell them who you WERE!” I have to emphasize who I once was not only because I have retired from executive duties but also because the Revolution that I have come to discuss often regards me as passé, out of date, an expiring person of print—you know, that dying industry. That may be so. But the revolutionary “new” media are exhausting themselves parading their newness while actually betraying highly familiar symptoms of a very old media disease. We are all mad: just not newly mad.
Future historians may call this period the entrepreneurial age. Rarely has such an explosion of new business ventures, technological innovation, and cultural experimentation swept across diverse cultures of the globe simultaneously. Government leaders in Beijing and Singapore, Warsaw and Caracas, Moscow and London are looking to business mavericks to energize their economies. Multinational companies are eager to instill entrepreneurial values within their workforces to boost their competitiveness. On the periphery of such power centers, meanwhile, entrepreneurs large and small are remaking entire sectors of the economy and creating high-tech boomtowns in San Jose, California; Bangalore, India; Cambridge, England; Austin, Texas; and many other places.
Topic:
Industrial Policy and Science and Technology
Political Geography:
United States, India, London, California, Moscow, England, Singapore, Bangalore, Austin, and Texas
The foregoing paraphrase of Dickens was how one participant in the Aspen Institute's 1998 Forum on Communications and Society (FOCAS) summed up the current state and impact of the Internet. On one hand, the Internet has provided more people with more convenient access to more information in a shorter period of time than any other medium in history. It has given rise to an enormous burst of entrepreneurial activity that has led to the creation of an entire new industry in just a few years. Electronic commerce already is a multibillion dollar enterprise and will become even more important in the near future.
The 1998 Aspen Institute Conference on Telecommunications Policy met to consider ways of speeding the deployment of telecommunication systems that allow for robust, reliable, and innovative communications services to the home. There was wide agreement that this means, in essence, getting broadband access to as many residences as possible, as quickly as economically sensible and technically feasible. By organizing the participants into three working groups, the session was able to come up with analytical suggestions and policy recommendations designed to accomplish this central objective.