Radio Luxembourg and the Eurodollar Market are both Offshore Stations

Abstract

Radio Luxembourg developed as a commercial broadcasting station whose programs were beamed primarily to the hundred million potential listeners in two foreign markets, Britain and France rather than to the several hundred thousand locals. A few years ago, neither country permitted commercial broadcasting; each relied solely on governmentowned stations. Programs within each country reflected what the producers — the bureaucrats of the British Broadcasting Corporation (BBC) and Radiodiffusion Française — felt the public should have. Perhaps these government officials had correctly gauged their public’s wants and needs. Perhaps, but unlikely. If they had, they would not have needed their monopoly power to limit the public’s choice of programs.