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Capital Expenditures and California Telecom Reform
PRI Study
By: Arthur B. Laffer, Ph.D., Andrew Coors, Gregory A. Stein, Vince Vasquez, Wayne H. Winegarden, Ph.D
3.1.2006
Telecommunications growth has created a wide array of job opportunities for the United States – nearly one million Americans are now employed by the industry. However, the state of California has seen an exodus of telecom-related employment, which in December 2005 had dropped to nearly 25 percent of the figures from 2001.For an industry that provides the services that 80 percent of non-farm state jobs depend on, the need to create a forward-thinking regulatory environment is clear. The purpose of this paper is to examine the relationship between government regulations and growth in the telecommunications industry, providing theoretical and anecdotal evidence that inhibiting capital expenditures to achieve shortsighted public goals will severely damage California’s ability to attract entrepreneurs and new investment in the future.
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