stment spending by wireless carriers; all other fig- ures are calculated from reports by publicly traded companies to the Securities and Ex- change Commission. 9. Note the rise in the wireless equity index in early 2004 in figure 3-2. 10. These data are from BEA (www.bea.doc.gov/bea/dn/faweb/AllFATables.asp#S3and www.bea.doc.gov/bea/dn2/gpo.htm [accessed December 2002]). The data are no longer available on the BEA website because of the conversion from SIC to NAICS. 11. BEA has not published data on telecommunications sector output for 2002 and 2003. 12. Between 1995 and 2000, the Federal Reserve Board's industrial production index for durable goods manufacturing rose at an average annual rate of more than 8 percent (www. federalreserve.gov/Releases/G17/ipdisk/ip.nsa [accessed December 26, 2004]). 13. FCC, Telecommunications Industry Revenues, 2002 (March 2004). 14. The GDP chain-type price index rose by slightly less than 2 percent a year, and the consumer price index by slightly more than 2 percent a year over this period. 15. In the late 1990s, there was a widespread belief that Internet traffic would double every 100 days or even faster. This prediction is generally traced to UUNet or WorldCom, the company that bought UUNet. Reed Hundt, in You Say You Want a Revolution (Yale University Press, 2000), p. 224, stated that "data traffic" was doubling every 90 days in 2000. It now appears, however, that Internet traffic has been doubling annually, not every 90-100 days. See Andrew M. Odlyzko, "Internet Traffic Growth: Sources and Implica- tions," in Optical Transmission Systems and Equipment for WDM Networking II, edited by B. B. Dingel, W. Weiershausen, A. K. Dutta, and K.-I. Sato, Proc. SPIE (International Society for Optical Engineering), vol. 5247 (2003), pp. 1-15 (www.dtc.umn.edu/ ~odlyzko/doc/networks.html). 16. For details, see www.bls.gov/lpc/home.htm. 17. The "UNE-Platform" is the combination of all the "unbundled" network elements required to provide traditional telephone service. By leasing this platfor