The transformation of interexchange telecommunications from a regulated, franchised monopoly to an unregulated, competitive industry has been under way for a quarter century. AT&T now faces competition in almost all of its intercity markets, including residential toll calling, and the local operating companies face the prospect of partial displacement by a number of emerging alternatives to the wired exchange network.
Alfred E. Kahn,
The Road to More Intelligent Telephone Pricing,
Yale J. on Reg.
Available at: http://digitalcommons.law.yale.edu/yjreg/vol1/iss2/3