Stanford law professor Lawrence Lessig is a student of history. He has documented that, despite their proclaimed goals, most government regulatory agencies end up promoting “excessive government favors and excessive private monopoly power.”
In light of this history,) Lessig recommends that we disband the FCC [1] and that we replace it with an innovation-promoting agency:
President Obama should get Congress to shut down the FCC and similar vestigial regulators, which put stability and special interests above the public good. In their place, Congress should create something we could call the Innovation Environment Protection Agency (iEPA), charged with a simple founding mission: “minimal intervention to maximize innovation.” The iEPA’s core purpose would be to protect innovation from its two historical enemies—excessive government favors, and excessive private monopoly power.
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