Should privacy be a tradeable right? This is an issue for urgent consideration, given how much personal data collated from different sources can reveal about our personal lives. The rise of digital technologies and of the digital economy on the one hand, and of data mining capabilities on the other, present economic opportunities that are being harnessed, often at the cost of our privacy. Some see this as a case of “missing markets”, where appropriate markets with adequate rules and regulations should be put in place. In this paper, I argue that the creating of a market for personal data, amounts to making the right to privacy a tradeable right. Further, a market for personal data/ privacy has all the characteristics of what Debra Satz characterises as “noxious markets”. Other economists, notably Bowles, Hausman and MacPherson and Sandel, have sought to delineate the moral limits to markets in cases of child labour, the organ trade, etc. I argue that the market for personal data should be treated similarly.
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