Invisible Hands and Iron Fists: Challenges in Regulating the Innovation Economy

From: Lawfare

By Megan Stifel, Jamil N. Jaffer

Have you heard of “Regulators in Cyberia”?  No, it’s not the latest thriller on the silver screen.  Rather, it’s a white paper recently released by the Federalist Society’s Regulatory Transparency Project that explores the challenges existing regulatory approaches pose to technological innovation.

The paper, whose writers are an ideologically diverse group of participants in the RTP’s Cyber and Privacy Working Group, is the first phase of multi-year project to examine the impact regulations have on the modern American economy. Neither the project nor the paper itself purport to provide a complete solution to important questions about whether and when, if ever, governmental entities should establish regulations or standards, particularly when it comes to rapidly changing sectors. Instead, the paper aims to set out and analyze several questions across multiple topic areas to aid such an assessment.  At the same time, the paper’s overall analysis suggests healthy skepticism is warranted when it comes to potential regulation in such environments. Below is a summary of its assessment and findings.

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