The Root of the Matter: Data and Duty: Rules for the New Digital Economy Should Look to Old Common Law Traditions

Abstract

There are 39 million books in the Library of Congress.1 This impressive analog measurement pales in comparison, however, with the realities of the digital world. Every day connected computers create the data equivalent of three million Libraries of Congress!2 This startling fact defines the economics of our time. Serving as the foundation for many beneficial outcomes, the aggregation of this torrent of data also menaces the public wellbeing with threats as diverse as election interference and non-competitive markets. It is important to recognize we are only at the beginning of the data aggregation era. Market intelligence firm International Data Corporation (IDC) forecasts that by 2025 the amount of data created and collected globally (both personal and machines talking to machines) will be over five times greater than today. This startling forecast leads to two conclusions: (1) if we are concerned about the collection and manipulation of data today – get ready for even more, and (2) developing rules for handling this data and its impact on privacy and marketplace competition is a sooner-rather-than-later priority.