1. Spectrum in Vermont William Murray

2. “It is the purpose of this Act, among other things, to maintain the control of the United States over all the channels of interstate and foreign radio transmissions; and to provide for the use of such channels, but not the ownership thereof, by persons for limited periods of time, under licenses granted by federal authority, and no such license shall be construed to create any right, beyond the terms, conditions, and periods of the license.” -The Communication Act of 1934

3. Allocation Value –Mobile Communication : 220.1 Billion –Broadcasting : 79.9 Billion –Fixed Communication : 1.66 Billion Total: $301.78 Billion Annual use value Potential

4. Commons Management Per Capita Value of Spectrum : $1002.12 –In Vermont (x629,908) : $625.23 million/yr –*40% economic rent = $250 million/yr Spectrum Trust Management –Annual Auction –Market Determines Price –Renewable Licensing *Gaffney, Losses of Nations, 1996