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In this timely book, Rob Frieden points out the myriad ways the United States has fallen behind other countries in telecommunications. Despite the appearance of robust competition and entrepreneurism in U.S. telecom markets, there is very little of either. Because of an inattentive Congress and a misguided FCC unwilling to confront real problems, industry incumbents have been able to earn healthy profits while keeping the United States in the backwaters of Internet-based information, communication, and entertainment markets. At every turn, regulators have tipped the scales in favour of large established companies, creating an environment that stifles innovation. As a consequence, Americans are stuck with relatively slow connectivity and with equipment that lacks features that have been staples in other countries for years. In telecommunications, the United States is a little like a third world country that is developing under crushing bureaucracies without recognizing that the rest of the world has passed it by. Frieden not only shows how failure can intrude on the ability of the United States to compete but suggests how to restore its competitiveness.