Is data the new currency in information society? Limits to the commodification of personal data from Lawrence Lessing‘s theory of regulation

Studienarbeit aus dem Jahr 2014 im Fachbereich Jura - Öffentliches Recht / Staatsrecht / Grundrechte, Umea University (Department of Law), Veranstaltung: Legal Challenges in the Digital Community, Sprache: Deutsch, Abstract: As Information Technology has made it possible to process enormous amounts of data in an efficient delocalized and omnipresent way, the scenario of data as the new currency is very likely to become a future prospect in the information society. When even powerful institutions like the European Commission state that "data has acquired enormous economic significance it is possible to guess the enormous potential coming up in this field. As enthusiastic as Google might be about this, concerns about the trade with personal data come naturally. What implies this practice for the users‘ interests and their privacy? To identify the direction in which the development of this issue could go, I first try to explain what the commodification of personal data exactly means, then I identify incentives for it and show relevant examples. In the second part, I will point out limitations using Lessing‘s theory of regulation through law, market and technology to answer in the end if personal data is really becoming the new currency in information society.