Bayesian Investor Blog

Ramblings of a somewhat libertarian stock market speculator

Net Neutrality

Posted by Peter on July 10, 2006
Posted in: U.S. Politics. Tagged: law.

I’ve been wondering for a while whether I should blog about the net neutrality legislation that is being debated. At last, Brad Templeton has come up with a good analysis which covers much of what I wanted to say about why the belief that net neutrality is a good rule is not sufficient to tell us whether we should try to have that written into law.
Lessig’s book The Future of Ideas does a good job of explaining why net neutrality is a desirable rule – a commons can be a good thing, and net neutrality is a rule that’s important to keeping the internet functioning as a commons.
If we’re going to hope that legislation can be useful at protecting commons, then I suspect we need a concept of the commons that contains as much of a standardized bundle of rules as most versions of the concept of property rights contains. That way we could ask legislators to just apply this standardized bundle of rules to each new commons we want it to protect, without giving special interests much of a chance to write the details in such a way as to protect their special situation.
Unfortunately, I can’t think of a good set of rules which would be as intuitive as the rules which apply property rights to physical objects. I suspect that the best we can hope for is a set of rules like those describing what you own when you buy shares of corporate stock. We might even end up with rules as messy as those use for patents, in which case it’s unclear whether it would be worth the effort.

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