By Adam Thierer, Forbes Contributor, What do the Titanic and your smartphone have in common? … Thus, government ownership and control of spectrum exacerbates, rather than solves, the scarcity problem — a problem that still haunts us today. Sadly, things didn’t need to turn out this way. As economist Thomas W. Hazlett pointed out in his important 1990 study on “The Rationality of U.S. Regulation of the Broadcast Spectrum,” property rights were beginning to develop naturally through common law cases in the 1920s, which could have solved interference claims without resorting to heavy-handed administrative regulation. “Private rights in the ether under common law were immediately recognized as a solution to the interference problem,” Hazlett revealed, and a “homesteading principle” could have taken hold to deal with interference claims in a bottom-up, organic fashion. Full article available at Forbes.com. http://www.forbes.com/sites/adamthierer/2012/04/14/what-do-the-titanic-and-your-smartphone-have-in-common/ Image from Wikipedia.
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