Your Data or Your Life
7 Pages Posted: 14 Dec 2020
Date Written: October 17, 2020
Abstract
Data, in particular personal data, is often described as the ‘new oil’ powering the information economy. It’s an attractive metaphor — evoking transformations underway in a fourth industrial revolution, heralding a world of artificial intelligence and limitless possibilities. Unfortunately, that metaphor is wrong in almost every way. Oil is finite, companies pay millions to extract it, and each barrel can be used only once. Data, by contrast, is infinite, consumers give it to you for free, and you can keep using it for as long as you like.
This essay considers the nature of personal data and recent proposals to amend Singapore's Personal Data Protection Act.
Keywords: Data Protection, Privacy, Personal Data, Singapore, GDPR
JEL Classification: K24, K38, L86
Suggested Citation: Suggested Citation