Hastings Communications and Entertainment Law Journal Volume 11 | Number 4 Article 1 1-1-1989 Adam Smith Assaults Ma Bell with His Invisible Hands: Divesture, Deregulation, and the Need for a New Telecommunications Policy Paul Stephen Dempsey Follow this and additional works at: https://repository.uchastings.edu/ hastings_comm_ent_law_journal Part of the Communications Law Commons, Entertainment, Arts, and Sports Law Commons, and the Intellectual Property Law Commons Recommended Citation Paul Stephen Dempsey, Adam Smith Assaults Ma Bell with His Invisible Hands: Divesture, Deregulation, and the Need for a New Telecommunications Policy, 11 Hastings Comm. & Ent. L.J. 527 (1989). Available at: https://repository.uchastings.edu/hastings_comm_ent_law_journal/vol11/iss4/1 This Article is brought to you for free and open access by the Law Journals at UC Hastings Scholarship Repository. It has been accepted for inclusion in Hastings Communications and Entertainment Law Journal by an authorized editor of UC Hastings Scholarship Repository. For more information, please contact
[email protected]. Adam Smith Assaults Ma Bell with His Invisible Hands: Divestiture, Deregulation, and the Need for a New Telecommunications Policyt by PAUL STEPHEN DEMPSEY* The Parable Of The Great Fish And it came to pass that God looked down upon the Great Fish and inquired, "You are a wise old fish. Tell me, what is this thing, water, in which ye swim?" And the fish thought for a moment, and replied, "I can neither taste, nor smell, nor see it. I know not what water is, Oh Lord." And many months passed. And lo, one day black clouds rolled across the sky and blot- ted out the Sun, and there came a great squall, and a tempest, and a storm which washed the Great Fish onto the land.