California Declares Free Market Broken, Recommends Price Controls For Phone Services
Verizon, AT&T, and their regulated cohorts love to blab how the “free market” and “competition” will keep prices low for consumers. According to California, it’s a big fat expensive lie. The cost of basic phone service has soared since the Public Utilities Commission lifted price controls in 2006, leading the agency to conclude:
“There is no indication of any change in the near future regarding the current state of competition. Market forces have not yet met the challenge of controlling price increases.”
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