ions, Wireless communications: Bell companies 9-13; long-distance markets, 5, 13-14; entry, 63; capital spending, 18, 105; Index development and growth, 27-29,85-87, estimates, 85-88, 100-103; and Tele- 95-99; household spending, 25-26, 67, communications Act, 14-15; types of, 87; international comparisons, 107-08; 97-98, 114-15 rate structures, 84-85, 97, 98, 100, WorldCom: access charges, 82; accounting 107-08, 167; regulatory approach, 15,27, scandal, 93; bankruptcy, 79, 88; 96,97; revenues, 20, 160-61; spectrum broadband services, 114; revenues, 47, auction costs, 4, 104-05; stock market 91-92 values, 88-89, 106-07, 161-63; subscriber statistics, 27, 158; substitution Yahoo-Broadband, Japan, 143,154 THE BROOKINGS INSTITUTION The Brookings Institution is an independent organization devoted to nonpartisan research, education, and publication in economics, government, foreign policy, and the social sciences generally. Its principal purposes are to aid in the development of sound public policies and to promote public understanding of issues of national importance. The Institution was founded on December 8, 1927, to merge the activities of the Institute for Government Research, founded in 1916, the Institute of Economics, founded in 1922, and the Robert Brookings Graduate School of Economics and Government, founded in 1924. The Institution maintains a position of neutrality on issues of public policy to safeguard the intellectual freedom of the staff. Interpretations or conclusions in Brookings publications should be understood to be solely those of the authors. Board of Trustees John L. Thornton Richard W. Fisher Marie L. Knowles Chair Cyrus F. Freidheim Jr. Harold H. Koh Strobe Talbott Bart Friedman William A. Owens President David Friend Frank H. Pearl Zoë Baird Ann M. Fudge John Edward Porter Alan R. Batkin Jeffrey W. Greenberg Steven Rattner Richard C. Blum Brian L. Greenspun Haim Saban James W. Cicconi William A. Haseltine Leonard D. Schaeffer Arthur B. Culvahouse Jr. Teresa Heinz Lawrence H. Summers Alan M.