The nation of South Korea is expected to have internet speeds 200-times what we have here in the United States by the end of the year. And here’s the kicker: They’ll pay only $27 a month for it. According to a new report by the Organization for Economic Cooperation and Development (OECD) – the United States is falling way behind other developed nations when it comes to internet speeds and connectivity. Currently, more than 94% of South Koreans have access to high speed internet. In that United States, only 70% of us do – with roughly 100 million Americans unable to access high-speed internet.
So what’s the secret in South Korea? Government regulation that prevents oligopolies from rising up in the internet market and charging whatever they want. It’s time we start enforcing the Sherman Anti-trust Act in America again – break up the giant internet cartel – and bring more competition into the market to lower prices. Internet is the basis of the new economy – and thus it should be fundamental right for all Americans to have access to it.
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