The reason local rates in Europe are so low is not regulation of the rates, it's regulation of the carriers, forcing them to open up the networks they build subsidized to competitors basically at cost, in part through mobile virtual network operator agreements. This removes the barrier to entry, I think in Denmark starting a MVNO takes a deposit on the scale of $8-10.000.
This is also reflected in the outrageous prices for roaming - this market is not opened up.
I suspect the case in the US is that the carriers aren't forced to open up in the same way.
But, the essence of my disagreement with the GPs post is the idea that entering a two-year contract to get a subsidized phone is "customer-slavery", "clearly" in need of regulation. Just get an unlocked phone and a monthly/pay-go plan. (Putting an APR on the contract I could get behind, though).
I've done that, and with my actual usage pattern it's significantly cheaper over two years (actually, I've been upgrading more like every year for a while), because I also don't need the big plan I'm forced into when buying subsidized. I haven't done the math counting in interest on buying the phone, but I'd be surprised if it didn't still come out cheaper.