Outrageous International rates from AT&T

I placed a phone call from my business line one day, not knowing what the charges were. I reckon I should have checked the rates, but never would I have thought that AT&T would charge me $6.04 a minute!!! Are we back in the 1950's or what??? In the age of internet phone and globalization, I consider charges like this unjustifiable and purely a rip-off. I am going to check my contract right now and see if I can switch phone companies.