Having said all this, feel free to use any part of it at no cost other that the time it would take you to create a proper citation!
Too Long To Read Summary: The principle of net neutrality in the economic sense boils down to determining the effect that allowing firms in this market to differentiate their products would have on social welfare. Supporters of net neutrality claim it is a method of leveling the playing field, which encourages competition, and is beneficial in the short and long run. Opponents assert that forbidding product differentiation destroys the incentive to innovate, and is costly to enforce, making it harmful to social welfare in the long run.
I believe that the case is strong for market failure in internet service, and that specific net neutrality regimes based on price discrimination go a long way to reconciling both sides and providing a solution. This solution involves giving the FCC the legislative authority to preserve net neutrality, when it feels the principle is being violated, without legally compelling them to do so. Using this power as a tool of moral suasion could preserve the incentive to innovate, and protect the consumer.