The Lost Economy

New Study Confirms Significant Economic and Consumer Benefits of 5G Hinge on Streamlined Infrastructure Policy

October 30, 2017

Deployment of next-generation or “5G” networks in the United States is expected to generate $533 billion in U.S. gross domestic product (GDP) and $1.2 trillion in long-run consumer benefits according to a new analysis released today by the American Consumer Institute (ACI).

The data serves as the inaugural report for the new “Lost EconomyTM” series, an independent research program sponsored by ACI that identifies regulations and policies that impede private enterprise, delay investment and deter market entry, thereby impacting national and state economic output and jobs.

“This new analysis confirms that, under the right regulatory and policy frameworks, there will be a spur in next-generation network infrastructure investment, resulting in economic growth, job creation and increased consumer welfare,” said Steve Pociask, President and CEO of ACI.

The analysis, “The Economic and Consumer Benefits from 5G Broadband Service Investment,” confirms that explosions in U.S. wireless subscriber connections (400 million in 2016) and data traffic are driving increased consumer demands for faster and more robust wireless networks. Separate studies cited in the ACI analysis also confirm 5G technology could produce $1.8 trillion in savings over seven years, while self-driving cars and connected devices for health applications could produce annual economic benefits of $447 billion and $305 billion, respectively.

However, the ACI report observes multiple impediments that remain ahead of successfully upgrading the nation’s wireless infrastructure in all 50 states, 3,000 counties and 20,000 incorporated places, including recognition of timely approvals of applications and permits from state and local governments.

“Many states have already begun modernizing their rules to encourage 5G investment. Those states will likely be the first to experience the benefits talked about in this report. Those who are behind could see less investment and not get all the benefits, which is not in the public’s interest,” added Pociask.

To view the full analysis, click here.

To learn more about the “Lost Economy” project, click here.


New ACI Program to Measure Cost of Regulatory Waste

October 17, 2017

Regulatory impediments can substantially hinder opportunities for private enterprise to invest and compete, thereby reducing economic output, impeding private investment, slowing job creation, and raising consumer prices.

These hurdles contribute to a stagnating economy, which has been a $2 trillion drag on the U.S. economy.

The Lost Economy™ – a new project by the American Consumer Institute – aims to measure the burden of overregulation and recommend ways to streamline state and federal regulations.

Stay tuned for our first project – Next Generation Wireless Networks for 5G – coming later this month.

To Learn More about the Methodology and upcoming projects, click here.

 


Morning Consult: Proposed Rail Regulations Could Make Consumers Big Losers

October 16, 2017

Competing railroad lines have recovered from near-bankruptcy in the 1970s, and today they perform the heavy lifting in our transportation networks. Through an investment of $635 billion since 1980, the railroad freight system has served American consumers very well. Within 10 years of regulatory reform, rail prices fell by 44 percent and productivity soared.

Read the full article here.


Real Clear Policy: The FCC’s Re-Regulation Agenda

July 24, 2017

For the first time ever, incumbent telephone companies have sustained back-to-back quarterly declines in the absolute number of wireline-based broadband subscribers. A new study from our organization, the American Consumer Institute, shows that regulations are a contributing factor to this drop — and also helped to cause the re-concentration of the wireline broadband market in recent years.

Read the full story here.


Sunshine State News: We Don’t Need More Regulation on Over-the-Counter Hearing Devices

July 6, 2017

For Floridians, personal sound amplification devices can boost sound that is too faint for most of us to hear. It can be used by consumers who want to temporarily heighten their hearing, including the use of headphones and equipment used to modestly boost the sound on telephones, listening devices and other audio amplification, and even to aid birdwatchers.

Read the full story here.