Local telephone service is the lastbastion of a still frequently asserted public policypreference for monopoly provision of telecommunications.This Note challenges the rationale for that preference,addressing four issues: First, is local network competitionfeasible from a technical and cost point of view? Second, istelecommunications competition accepted by major investors?Third, how important is competition from a public policypoint of view? And fourth, how can it be made to work? ThisNote makes the case that local network competition isincreasingly feasible from a technical and cost point ofview, that it is increasingly accepted by investors, andthat it offers important benefits from a public policy pointof view. But in order to work, it must be supported byeffective regulation. Policymakers should be encouraged toaddress the critical issues of this transition toward acompetitive telecommunications sector.
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