The Scarcity Rationale for Regulating Traditional Broadcasting: An Idea Whose Time Has Passed

This paper concludes that the Scarcity Rationale for regulating traditional broadcasting is no longer valid. The Scarcity Rationale is based on fundamental misunderstandings of physics and economics, efficient resource allocation, recent field measurements, and technology. It is outmoded in today’s media marketplace.  Perhaps in recognition of the Rationale’s flaws, many variations of it have been attempted, but none fares much better under sensible, factual analysis.