Ronald Coase's 'The Federal Communications Commission', 50 Years On
Half a century ago, economist Ronald Coase criticized the political allocation of radio frequencies by the federal government in a seminal article, entitled “The Federal Communications Commission,” in the Journal of Law and Economics. He argued that the government could achieve efficient allocation
Half a century ago, economist Ronald Coase criticized the political allocation of radio frequencies by the federal government in a seminal article, entitled “The Federal Communications Commission,” in the Journal of Law and Economics. He argued that the government could achieve efficient allocation by allowing property rights in the electromagnetic spectrum. He later won the Nobel Prize in Economics for the ideas first articulated in that paper.
