Discusses the U.S. federal government's policy of auctioning airwaves as a source of revenue. Highlights include a review of actions taken by the Federal Communications Commission in response to the policy; examination of effects on wireless telecommunication industries; discussion of the policy's economic consequences; and presentation of policy…

Discusses technological change in the telecommunications industry; changes in job content and skill levels; decreased labor requirements in the telephone industry; the impact on labor and employment; trends in productivity and investment; and the social and economic ramifications of communication technology changes. (MF)