By the 1990s many sectors including electricity, airlines and telecoms had been liberalised, moving from government to private control. Spectrum was no exception:  rather than governments deciding who could access the airwaves, auctions were increasingly used for mobile spectrum, meaning the licence went to the highest bidder.
But how well has this worked, considering that mobile ownership is no longer a nice-to-have luxury but an essential utility for living and working in the digital age?
To debate this issue we speak to two leading economists, Professor Martin Cave and Professor Gerard Pogorel.
Further reading:
Spectrum 101: The pros and cons of spectrum auctions
Spectrum Audit makes proposals to shift public sector thinking
PolicyTracker marks the 20th anniversary of the Cave review of UK spectrum management
Spectrum assignments need a rethink, say academics