A topic that I find interesting from my Introduction to
Digital Communication class is the topic of regulation. As a Finance major, I
take particular interest in how legislation influences the economy (in class,
this falls under the social systems level – political, economic, and interest
groups). Since capitalism has historically driven the creation of a great deal
of wealth, heavy regulation may not always be desired. However, modern communications
technology cannot operate within unfettered capitalism (see: broadcasting a radio
signal powerful enough to drown out all other stations). To this end, the
creation of the FCC was a necessary step to ensure that the interests of both business
and the consumer are balanced. Airwaves are seen as a resource (finite # of
frequencies available) and managed accordingly. However, the relaxation of
regulations (e.g. The Telecom Act of 1996) in the past few decades has raised concerns
regarding competition. The recent era of mergers increased competition in
different markets while drastically reducing the number of competitors. The
communications industry is slowly moving in a more monopolistic direction.
Legislators and voters need to keep the balance between consumers and companies
in mind to ensure that communications technology continues to serve as a tool
for the societal good.
Hello! It's so interesting to hear your opinion as a Finance Major. Before this class, I didn't even realize the FCC was a thing. I agree with you that modern communication technology can be done within unfettered capitalism. There needs to be some sort of regulation, which is shown from the acts of the FCC. Overall, really interesting piece! -Vedika Khanna
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