The Property Status of Airwaves Summary and Analysis

Rand feels "Any material element or resource which, in order to become of use or value to men, requires the application of human knowledge and effort, should be private property—by the right of those who apply the knowledge and effort" (Chapter 10, p. 122). Rand applies this principle to the airwaves, whose usage requires the definition of some kind of property rights or people would be trying to use the same frequencies and jamming each other. Rand feels U.S. government has failed in this area.

Rand uses the Homestead Act and the settling of the western lands in the U.S. as an example of how property rights can be established. Public land was put into private hands when the settlers settled on the land and worked it for a specified period...