What is the problem with the Internet in the United States?

On Monday, President Obama urged the Federal Communications Commission to set stringent net neutrality rules to ensure the free flow of content on the information superhighway.

The regulations, he said, should ensure that “neither the cable company nor the phone company will be able to act as a gatekeeper, restricting what you can do or see online.” To do so, he suggested classifying consumer broadband as a public utility — like telephone service or the company that delivers electricity to your home — allowing the F.C.C. to set precise proscriptions covering quality of service.

In principle, this makes sense. It is hard to overstate the importance of broadband to America’s economy and society. Free to do as they pleased, the clutch of companies that control access to the Internet would have enormous power to determine what information reaches Americans online.

But would the cure be worse than the disease, entangling the Internet in an endless fight over regulation and perhaps slowing investment in one of the nation’s most vital services? To some extent, it depends on how you view the threat.