While Canada is enjoying our $4.2 billion windfall from the latest wireless spectrum auction (see reports from CBC (with video), CTV (with video), Globe and Mail, National Post, Reuters, NP on the auction players), I would like to take a moment to thank Ronald Coase.
In my opinion Coase is one of the great minds of our time and his “The Federal Communications Commission” has helped governments around the world “make” billions from Frequency Spectrum Auctions. (including the last round of auction by the FCC in U.S.)
I would like to copy and pastse from my previous blog entry,
In 1959 the Federal Communications Commission invited economist Ronald Coase to testify about his proposal for market allocation of radio spectrum rights. The FCC’s first question: “Is this all a big joke?“
$4.2 billion is no big joke. Thanks a lot Prof. Coase.
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