Net Irrationality?

"Net neutrality" means that Internet service providers must not distinguish between different kinds and sources of data; all data must be treated the same way. But why does the public interest require that data needing fast handling (such as streaming video) must wait in the same line with spam? If a corporation is rich enough to buy faster service for its customers, why shouldn't it use its money that way instead of buying new yachts for the junior vice presidents?

Maybe a company should be allowed to do what it likes on its own, but an Internet service provider (say Verizon) that deals with many Internet companies should treat them all equally. Why? If Verizon users don't like Verizon's service, they'll switch to a different I.S.P. This is called "competition." It isn't a panacea and almost never works perfectly. In fact it is (like democracy) the worst possible system, except for all the others.

Please find the original article in the New York Times. Additionally, watch this video on the DLD panel "Informavore" with John Brockman (Edge), Andrian Kreye (SZ), David Gelernter (Yale), and Frank Schirrmacher (FAZ) for more food for thought by David Gelernter.