Economics

With the age of informationalization, the advance in technological capabilities has brought with it significant privacy issues. Members of society are not aware of the extent that companies will reach to gather personal information about their consumers, and possibly passing on that information to third parties. The most important question to consider regarding the right to control one’s personal information is who should control the flow of information. Individuals are thought to protect their own privacy; however, a profitable market has emerged and developed where any individual with capital resources is able to access personal information about almost any other person. This paper will argue that markets for personal information are not effective, thus, the issue of privacy requires government regulation as well as educational efforts and technological developments.
Advancements in technology, in particular, the Internet, has allowed for increased control available to individuals to alter information. The spread of computers throughout our society fundamentally affects the distribution of controlling power, which Shapiro described as the control revolution. The control revolution emphasizes minimal government intervention and more individual choice while using market-based solutions to solve social problems (Shapiro, 159). The Internet allows for more information to be created, distributed and consumed with greater speed, allowing private information to be treated as a commodity in market exchange, however, a line must be drawn between private and public information.  
The development of the Internet and the ability to complete electronic transactions has increased public concern about privacy. With every website visit, a browser leaves an electronic trace ...
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