The big hang-up
On this week's Economist: Phone companies overcharge for long-distance calls.
Though you wouldn’t know it from your monthly statement, the actual cost of dialing halfway around the world is now the same as calling someone around the corner. Once, not all that long ago, operators had to patch long-distance calls from one trunk line to the next, adding cost almost linearly with distance. Though the banks of telephone operators have long gone, the phone companies still pretend that long-distance calls cost them disproportionately more than local ones.

