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Information Law and Policy in Capital Markets

Financial information is a both a public resource and a commodity that market participants produce and distribute in connection with other financial products and services. Legislators, regulators, and other policy makers must therefore balance the goal of making information transparent, accessible, and useful for the collective benefit of society against the need to maintain appropriate incentives for information originators and intermediaries. In Chasing the Tape, Onnig Dombalagian examines the policy objectives and regulatory tools that shape the information production chain in capital markets in the United States, the European Union, and other jurisdictions. His analysis offers a unique cross section of capital market infrastructure, spanning different countries, regulated entities, and financial instruments.

Dombalagian uses four key categories of information—issuer information, market information, information used in credit analysis, and benchmarks—to survey the market forces and regulatory regimes that govern the flow of information in capital markets. He considers the similarities and differences in regulatory aims and strategies across categories, and discusses alternative approaches proposed or adopted by scholars and policy makers. Dombalagian argues that the long-term regulatory challenges raised by economic globalization and advanced information technology will require policy makers to decouple information policy in capital markets from increasingly arbitrary historical classifications and jurisdictional boundaries.

Information, E-Government, and Exchange

The computer systems of government agencies are notoriously complex. New technologies are piled on older technologies, creating layers that call to mind an archaeological dig. Obsolete programming languages and closed mainframe designs offer barriers to integration with other agency systems. Worldwide, these unwieldy systems waste billions of dollars, keep citizens from receiving services, and even—as seen in interoperability failures on 9/11 and during Hurricane Katrina—cost lives. In this book, Alon Peled offers a groundbreaking approach for enabling information sharing among public sector agencies: using selective incentives to “nudge” agencies to exchange information assets. Peled proposes the establishment of a Public Sector Information Exchange (PSIE), through which agencies would trade information.

After describing public sector information sharing failures and the advantages of incentivized sharing, Peled examines the U.S. Open Data program, and the gap between its rhetoric and results. He offers examples of creative public sector information sharing in the United States, Australia, Brazil, the Netherlands, and Iceland. Peled argues that information is a contested commodity, and draws lessons from the trade histories of other contested commodities—including cadavers for anatomical dissection in nineteenth-century Britain. He explains how agencies can exchange information as a contested commodity through a PSIE program tailored to an individual country’s needs, and he describes the legal, economic, and technical foundations of such a program. Touching on issues from data ownership to freedom of information, Peled offers pragmatic advice to politicians, bureaucrats, technologists, and citizens for revitalizing critical information flows.

The Globalization of Internet Governance

The Internet has reached a critical point. The world is running out of Internet addresses. There is a finite supply of approximately 4.3 billion Internet Protocol (IP) addresses--the unique binary numbers required for every exchange of information over the Internet--within the Internet’s prevailing technical architecture (IPv4). In the 1990s the Internet standards community selected a new protocol (IPv6) that would expand the number of Internet addresses exponentially--to 340 undecillion addresses. Despite a decade of predictions about imminent global conversion, IPv6 adoption has barely begun.

Protocol Politics examines what’s at stake politically, economically, and technically in the selection and adoption of a new Internet protocol. Laura DeNardis’s key insight is that protocols are political. IPv6 intersects with provocative topics including Internet civil liberties, US military objectives, globalization, institutional power struggles, and the promise of global democratic freedoms. DeNardis offers recommendations for Internet standards governance, based not only on technical concerns but on principles of openness and transparency, and examines the global implications of looming Internet address scarcity versus the slow deployment of the new protocol designed to solve this problem.

A Practical Guide

Through five editions since 1981, this book has offered the most comprehensive accessible guide available to all aspects of copyright law. Now, with the sixth edition, The Copyright Book has been thoroughly updated to cover copyright for the Internet age, discussing a range of developments in the law since 2000. The only book written for nonlawyers that covers the entire field of copyright law, it is essential reading for authors, artists, creative people in every medium, the companies that hire them, users of copyrighted material, and anyone with an interest in copyright law from a policy perspective.

New material includes greatly expanded coverage of infringement and fair use, with detailed discussion of recent decisions, including the Grateful Dead, Google, and HathiTrust cases. The new edition considers such topics as open access, the defeat of the Stop Online Piracy Act (SOPA), file sharing, e-reserves, the status of “orphan works,” and the latest developments under the Digital Millennium Copyright Act (DMCA).
The sixth edition also brings up to date The Copyright Book’s plain English explanation of such fundamental topics as authorship and ownership; transfers and licenses of copyright; copyright notice; registration of copyright (including the new online registration and “preregistration” systems); the scope of rights included in copyright, and exceptions to those rights; “moral rights”; compulsory licenses; tax treatment of copyright; and international aspects of copyright law.

As copyright issues grow ever more complicated, The Copyright Book becomes ever more indispensable.

Technological Futures and the Myth of Digital Universalism

In Networking Peripheries, Anita Chan shows how digital cultures flourish beyond Silicon Valley and other celebrated centers of technological innovation and entrepreneurship. The evolving digital cultures in the Global South vividly demonstrate that there are more ways than one to imagine what digital practice and global connection could look like. To explore these alternative developments, Chan investigates the diverse initiatives being undertaken to “network” the nation in contemporary Peru, from attempts to promote the intellectual property of indigenous artisans to the national distribution of digital education technologies to open technology activism in rural and urban zones.

Drawing on ethnographic accounts from government planners, regional free-software advocates, traditional artisans, rural educators, and others, Chan demonstrates how such developments unsettle dominant conceptions of information classes and innovations zones. Government efforts to turn rural artisans into a new creative class progress alongside technology activists’ efforts to promote indigenous rights through information tactics; plans pressing for the state wide adoption of open source–based technologies advance while the One Laptop Per Child initiative aims to network rural classrooms by distributing laptops. As these cases show, the digital cultures and network politics emerging on the periphery do more than replicate the technological future imagined as universal from the center.

The New Information Policy Contests

The Swedish Pirate Party emerged as a political force in 2006 when a group of software programmers and file-sharing geeks protested the police takedown of The Pirate Bay, a Swedish file-sharing search engine. The Swedish Pirate Party, and later the German Pirate Party, came to be identified with a “free culture” message that came into conflict with the European Union’s legal system. In this book, Patrick Burkart examines the emergence of Pirate politics as an umbrella cyberlibertarian movement that views file sharing as a form of free expression and advocates for the preservation of the Internet as a commons. He links the Pirate movement to the Green movement, arguing that they share a moral consciousness and an explicit ecological agenda based on the notion of a commons, or public domain. The Pirate parties, like the Green Party, must weigh ideological purity against pragmatism as they move into practical national and regional politics.

Burkart uses second-generation critical theory and new social movement theory as theoretical perspectives for his analysis of the democratic potential of Pirate politics. After setting the Pirate parties in conceptual and political contexts, Burkart examines European antipiracy initiatives, the influence of the Office of the U.S. Trade Representative, and the pressure exerted on European governance by American software and digital exporters. He argues that pirate politics can be seen as “cultural environmentalism,” a defense of Internet culture against both corporate and state colonization.

Networked Innovations in International Development

The emergence of open networked models made possible by digital technology has the potential to transform international development. Open network structures allow people to come together to share information, organize, and collaborate. Open development harnesses this power, to create new organizational forms and improve people’s lives; it is not only an agenda for research and practice but also a statement about how to approach international development. In this volume, experts explore a variety of applications of openness, addressing challenges as well as opportunities.

Open development requires new theoretical tools that focus on real world problems, consider a variety of solutions, and recognize the complexity of local contexts. After exploring the new theoretical terrain, the book describes a range of cases in which open models address such specific development issues as biotechnology research, improving education, and access to scholarly publications. Contributors then examine tensions between open models and existing structures, including struggles over privacy, intellectual property, and implementation. Finally, contributors offer broader conceptual perspectives, considering processes of social construction, knowledge management, and the role of individual intent in the development and outcomes of social models.

Contributors
Carla Bonina, Ineke Buskens, Leslie Chan, Abdallah Daar, Jeremy de Beer, Mark Graham, Eve Gray, Anita Gurumurthy, Havard Haarstad, Blane Harvey, Myra Khan, Melissa Loudon, Aaron K. Martin, Hassan Masum, Chidi Oguamanam, Katherine M. A. Reilly, Ulrike Rivett, Karl Schroeder, Parminder Jeet Singh, Matthew L. Smith, Marshall S. Smith

Copublished with the International Development Research Centre of Canada (IDRC)

Telecommunications Law and Policy in the Internet Age

In Digital Crossroads, two experts on telecommunications policy offer a comprehensive and accessible analysis of the regulation of competition in the U.S. telecommunications industry. The first edition of Digital Crossroads (MIT Press, 2005) became an essential and uniquely readable guide for policymakers, lawyers, scholars, and students in a fast-moving and complex policy field. In this second edition, the authors have revised every section of every chapter to reflect the evolution in industry structure, technology, and regulatory strategy since 2005.

The book features entirely new discussions of such topics as the explosive development of the mobile broadband ecosystem; incentive auctions and other recent spectrum policy initiatives; the FCC’s net neutrality rules; the National Broadband Plan; the declining relevance of the traditional public switched telephone network; and the policy response to online video services and their potential to transform the way Americans watch television. Like its predecessor, this new edition of Digital Crossroads not only helps nonspecialists climb this field’s formidable learning curve, but also makes substantive contributions to ongoing policy debates.

Sharing Resources and Risks across Borders
Edited by Nil Disco and Eda Kranakis

With the advent of modernity, the sharing of resources and infrastructures rapidly expanded beyond local communities into regional, national, and even transnational space— nowhere as visibly as in Europe, with its small-scale political divisions. This volume views these shared resource spaces as the seedbeds of a new generation of technology-rich bureaucratic and transnational commons. Drawing on the theory of cosmopolitanism, which seeks to model the dynamics of an increasingly interdependent world, and on the tradition of commons scholarship inspired by the late Elinor Ostrom, the book develops a new theory of “cosmopolitan commons” that provides a framework for merging the study of technology with such issues as risk, moral order, and sustainability at levels beyond the nation-state.

After laying out the theoretical framework, the book presents case studies that explore the empirical nuances: airspace as transport commons, radio broadcasting, hydropower, weather forecasting and genetic diversity as information commons, transboundary air pollution, and two “capstone” studies of interlinked, temporally layered commons: one on overlapping commons within the North Sea for freight, fishing, and fossil fuels; and one on commons for transport, salmon fishing, and clean water in the Rhine.

Contributors:
Håkon With Andersen, Nil Disco, Paul N. Edwards, Arne Kaijser, Eda Kranakis, Kristiina Korjonen-Kuusipuro, Tiago Saraiva, Nina Wormbs

Good Governance and Better Regulation in the Information Age

Internet use has become ubiquitous in the past two decades, but governments, legislators, and their regulatory agencies have struggled to keep up with the rapidly changing Internet technologies and uses. In this groundbreaking collaboration, regulatory lawyer Christopher Marsden and computer scientist Ian Brown analyze the regulatory shaping of “code”—the technological environment of the Internet—to achieve more economically efficient and socially just regulation. They examine five “hard cases” that illustrate the regulatory crisis: privacy and data protection; copyright and creativity incentives; censorship; social networks and user-generated content; and net neutrality.

The authors describe the increasing “multistakeholderization” of Internet governance, in which user groups argue for representation in the closed business-government dialogue, seeking to bring in both rights-based and technologically expert perspectives. Brown and Marsden draw out lessons for better future regulation from the regulatory and interoperability failures illustrated by the five cases. They conclude that governments, users, and better functioning markets need a smarter “prosumer law” approach. Prosumer law would be designed to enhance the competitive production of public goods, including innovation, public safety, and fundamental democratic rights.

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