Abstract
DALLAS SMYTHE is a research professor in the Institute of Communications Research and professor of economics in the Economics Department of the University of Illinois. For five and a half years, he was chief economist of the Federal Communications Commission, and before that served as economist for the Bureau of the Budget and for the U. S. Department of Labor. The following article is based on a speech Dr. Smythe delivered at the Consumer's Union Conference at Vassar College in the summer of 1951. Both it, and an article by Franklin Fearing which appears on Page 129, are soon to be published in Consumer's Problems in a Period of International Tension, Consumer's Union of the United States.
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