Man and the Economy 2015; 2(1): 16 Ronald Coase DOI 10.1515/me-2015-0001 I appear before you with a strong conviction and a bold proposal. My conviction is that the principles under which the American economic system generally operates are fundamentally sound. My proposal is that the American broadcasting industry adopts those principles. In presenting my case, I suffer from the disadvantage that, at the outset, I must attack a position which, although I am convinced it is erroneous, is nonetheless firmly held by many of those most knowledgeable about the broadcasting industry. Most authorities argue that the administrative assignment of radio and television frequencies by the Commission is called for by the technology of the industry. The number of frequencies, we are told, is limited. If I might quote a passage with which you are all familiar, Mr. Justice Frankfurter said in the NBC case1 in 1943: "The facilities of radio are not large enough to accommodate all who wish to use them. Methods must be devised for choosing among the many who apply. And since Congress itself could not do this, it committed the task to the This testimony was given by Professor Ronald Coase on December 11,
Man and the Economy – de Gruyter
Published: Jun 1, 2015
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