Free entry and social inefficiency in radio broadcasting

Article Abstract:

Cross-sectional information derived from an analysis conducted on radio broadcasting firms confirmed the theory that free market entry results in a certain degree of social inefficiency. By conducting an econometric specification on crucial industry parameters, including advertising prices, number of stations and radio listening, it was shown that the implementation of free entry policies generates an estimated 45% revenue loss on the part of firms and advertisers. Such a loss, however, may be alleviated if the marginal value of programming to listeners is thrice the value of marginal listeners to advertisers.

Radio Broadcasting, Radio broadcasting stations, Radio broadcasting industry, Social economics, Socioeconomics, Free enterprise

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The medium run

Article Abstract:

The differences in the macroeconomic issues between North American and European countries are examined through the study of capital share and returns to labor. Results reveal capital shares in countries such as Germany, France, Italy, and Spain to have declined abruptly during the 1970s and to have increased unexpectedly during the 1980s, in contrast to North American countries where shares have remained relatively unchanged. Unemployment figures have also been shown to rise regularly in Europe while remaining unshifting in the US.

Europe, North America, Labor supply, Labor force, Business cycles, Long waves (Economics), Kondratieff cycles

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