Horwitz here examines the history of telecommunications to build a compelling new theory of regulation, showing how anti-regulation rhetoric has often had unintended and unwanted effects on American industry.

Examines the history of telecommunications to build a compelling new theory of regulation, showing how anti-regulation rhetoric has often had unintended and unwanted effects on American industry.

Introduction: The Deregulation Revolution That Wasn't -- 1. Understanding Regulatory Reform -- 2. Why Change the Rules? -- 3. The United Kingdom and Japan: Two Paths to Regulatory Reform -- 4. Telecommunications: The Creation of Competition -- 5. Financial Services: The Big Bang and the Proliferation of Rules -- 6. Regulatory Reform British Style: The Separation of Regulatory Powers -- 7. Telecommunications: Reregulation with a Vengeance -- 8. Financial Services: The Ministry of Finance and the Perpetual Bargain -- 9. Regulatory Reform Japanese Style: The Strategy Behind Slowness -- 10. Other Countries: The Many Roads to Reregulation -- 11. The Irony of State-Led Deregulation.