Smith, Peter2012-08-132012-08-131995-09https://hdl.handle.net/10986/11653Wasteful duplication of facilities, uneconomic entry, universal service, and cream skimming are the catchphrases used by many telecom executives, civil servants, and merchant bankers in arguing for continuing telecom monopolies and cross-subsidies. The author explains why their arguments are wrong.CC BY 3.0 IGOBUSINESS TELEPHONE SERVICECOMPETITIVE MARKETSECONOMIC DEMANDECONOMIC EFFICIENCYECONOMIC LOSSECONOMIC OUTCOMESECONOMIES OF SCALEECONOMIES OF SCOPEEESINEFFICIENCYLOCAL BUSINESSMONOPOLYNATURAL MONOPOLYPER CAPITA INCOMEPHONE LINEPOOR PERFORMANCEPRIVATE SECTOR DEVELOPMENTPROFIT MARGINSPUBLIC POLICYREGULATORY AGENCYTELECOMTELECOMMUNICATIONSTELECOMMUNICATIONS AUTHORITYTELECOMMUNICATIONS POLICYTELECOMMUNICATIONS SECTORTELECOMMUNICATIONS SERVICESTELEPHONETELEPHONE COMPANIESTELEPHONE SERVICETELEVISIONTOTAL COSTSUNIVERSAL SERVICE MONOPOLIESECONOMIC LOSSMARKET COMPETITIONTELECOMMUNICATIONSWorld Bank10.1596/11653