It looks obvious

Om Malik links to two speeches opposing legislation Net Neutrality. The first speech by former FCC Chairman Powell which worn the net neutrality advocates that:

You live by the sword, you die by the sword.  It is much harder get a law off the books than to get it on. Someone will think it is a good idea to apply the same rules to the other side’s products and services.  Be careful because you are playing their game [the telcos']. We are talking about resources, ability, and 100 years of skill.  

The second speech by Martin Geddes is an analysis of the reasons why will it be wrong to involve additional legislation trying to protect the network neutrality. Geddes presents very strong arguments opposing government legislation, the one I found the most compelling is:

Network neutrality makes competition and consumer welfare dependent on law and lobbying, not natural competition. So you’ve chosen the area in which the telcos are strongest on which to fight!

It creates great uncertainty for new entrants. Remember the CLECs? Well, I wouldn’t want to be building infrastructure based on neutrality rules. It inhibits the very price discrimination that makes new access networks more economically feasible, particularly wireless ones.

We actively want un-neutral nets. For example, we’d all benefit if there were local peer-to-peer networks, where local traffic was free, reflecting the low cost of exchanging local traffic. Perhaps we’d benefit if Google could subsidise connectivity, so the person with the 2 Mbit/s connection gets their video at 10 Mbit/s, because the video is subsidised by ads.

The fear from the telecom companies’ attempts to regain the level of control on the market they use to have 10 years ago is very strong. However it will be wrong, and counterproductive, fighting this attempt by introducing more legislation and government involvement. Government involvement didn’t make the telecom market better, but when public money and legislation will control the net we should see increasing demand to control the content . Is that what we really want? I doubt.