The question of the most effective order of reforming state-owned enterprises has been hotly debated over the years. In the early 1990s, many western advisers encouraged Eastern European countries, and the former Soviet Union, to privatize firms quickly under the assumption that market...

The United States now spends around $7 billion on universal service programs-subsidies intended to ensure that the entire country has access to telecommunications services. Most of this money supports telecommunications service in high cost (primarily rural) areas, and the High Cost fund is...