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December 10, 2003
Essay on Powell Published
Posted by Arnold
My essay praising Michael Powell's approach at the FCC was published today in the Washington Times. It's the one where I concluded
Congress thinks it knows the optimal fraction of the television market that can be owned by one media firm. Reed Hundt thinks he knows better than consumers themselves how much they want to pay for fiber to their homes. Michael Copps thinks he knows how to manage phone lines and how to allocate spectrum.
Unlike his detractors, Michael Powell thinks he knows less than the market. And in my view, that makes Michael Powell a man of rare and precious wisdom.
Comments (5)
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1. Ready on December 10, 2003 04:52 PM writes...
Powell is right on with that approach. Honestly, though, I think any other approach than the one currently in practice would offer some improvement. At least, any approach that would remove inhibitions of competition.
Permalink to Comment2. Matthew Ernest on December 11, 2003 12:46 AM writes...
Unfortunately, market efficiencies are of only academic interest to we who are considered to be mere product.
Permalink to Comment3. Steve Larson on December 13, 2003 08:52 AM writes...
So you're not concerned about concentration of the media? Have you read William Safire's thoughts on this, and if so, what do you think about them?
Permalink to Comment4. Arnold Kling on December 14, 2003 09:30 AM writes...
I think that Safire is a fool on many issues, particularly this one.
In today's Washington Post, there is an article about how small groups have achieved parity with large organizations in the age of the Internet. They cite the Dean campaign.
I think that the big story about media today is the *decline* of the importance of centralized media power. Anyone who thinks that centralized media is becoming more important needs to supply at least a shred of evidence.
Permalink to Comment5. Jody Leavell on December 18, 2003 05:51 PM writes...
I disagree with Mr. Klings assessment of Mr. Powell. Particularly because Powells actions have not necessarily demonstrated an attempt to turn control over to the "free market". The word that describes most of the changes Mr. Powell has championed would be trans-regulation rather than de-regulation. There will always be an argument among economist whether the market is perfectly self-regulating or requires tweaking. However, where the FCC is concerned it is a given that some form of regulation exists, even if it favors a minority at the expense of a majority. Mr. Powell has not demonstrated any intent to get out of the regulatory business whatsoever. If he had then the big industry players would have called for his head on a platter. Ask the local mom & pop internet service providers who pioneered commerical internet access what grade they would give Mr. Powell.
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