A century ago, great fortunes derived from private control over oil, coal and steel -- the essential inputs to mass industrial production. Today the American people collectively own the most valuable resource in the emerging information economy: the airwaves, also known as the electromagnetic spectrum.
Cellphone use is exploding, and wireless Internet access already is available in certain central city and campus locations. Later in this decade, devices providing anywhere, anytime access to e-mail, entertainment, video-conferencing and databases worldwide could… more