Coase on broadcasting, advertising and policy

The initial argument developed in this paper is that a wants-based concepti on of the objectives of policy, clearly operative in his broadcasting studi es, together with the acceptance of certain assumed properties of the compe titive process, tightly constrain Coase's work. At times, for example, when considering the impact of advertising, Coase accepts that the assessment o f policy must be carried out on a broader basis. Coase does not, however, g o on to develop a criterion beyond wants. Elsewhere, he highlights the impo rtance of the distinction between wants and needs. This paper further argue s that, by elaborating upon this distinction, it becomes possible to give a n indication of how a broader framework for the assessment of policy might be developed.