Some Economics of Wireless Communications

Abstract

Imagine that once upon a time the policymakers of the emerging British Empire believed that a nation’s wealth came from the magnitude of its trade with distant nations. In pursuit of this belief, they set up the Imperial Trade Commission, which in turn decided that the way to optimize trade with India was to create the East India Company and give it a monopoly over trade with India. Along came Adam Smith, and classical economists began to understand that planned