Net neutrality is another law passed by Congress and pushed by the White House that diminishes Internet freedom just a bit more. This law establishes a terrible precedent for the federal government, it creates a more bureaucratic Internet and the cronyism stinks to high heaven. Of course, it penalizes those who use less compared to those who use more.
For those of you that are unsure what net neutrality is all about, the initiative is part of the government’s effort of “restricting Internet traffic based on destination, type or source. Moreover, the president’s plan would prohibit ISPs from throttling content, restricting legal content or services, paid prioritization of content or services and produce a greater abundance of transparency.”
Edmund C. Moy, Chief Strategist of Fortress Gold Group and the 38th Director of the United States Mint, published an op-ed piece in Newsmax and presented the case that net neutrality will hurt the overall economy in a few ways:
– FCC has produced uncertainty in the marketplace
– New rules create crony capitalism and limits entrepreneurship and competition
– Regulators will generate even newer and tougher regulations on the Internet.
“Expect the FCC to eventually get into regulating pricing and profit just like other public utilities. And it just built the foundation to begin regulating free speech, especially political and religious,” wrote Moy.
“Very little good and lots of bad will come about from net neutrality. These new rules are not about net neutrality, but in the words of my friend Michelle Connolly, a professor of economics at Duke University and former chief economist at the FCC, it’s about net neutering.”
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