With the creation and implementation of the February 1997 World Trade Organization Agreement on Basic Telecommunications Services (the February Accord or WTO Agreement), the international telecommunications community has (at least on paper) promised ostensibly to move away from markets...

Fifty years ago, U.S. Supreme Court Justice Felix Frankfurter warned the Federal Communications Commission not to view competition in an abstract, sterile way. To illustrate the dangers of using such an abstract approach to the key issue of ILEC market power, this paper uses the Commission's...