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"The last 30 years have been marked by extraordinary transformations having a radical impact on the world economy and the postwar economic order. They have been linked to globalization and its effects on the structures of the world economy, international relations, and international organizations. One key change has been the tremendous favor given to competition as the main organizing principle of social and economic activity: governments have unilaterally and collectively embraced deregulation, privatization, and liberalization as the main driving forces behind economic policies and international cooperation. A global economic order has emerged, characterized by radical moves toward unregulated markets, and engaged private actors and states in global oligopolistic rivalry. This is particularly significant in certain sectors, principally telecommunications. Changes that have led to the emergence of global unregulated telecommunications markets are reviewed; the fallacies of such a regime explored; and emerging regulation challenges put into perspective."