Is It Time for a Platform Magna Carta?

Abstract

Modern platforms have reached such a scale that they have effectively become private owners of public infrastructure. These platforms have taken on regulatory functions for speech, competition, intellectual property, and other policies with trans-national scope. Governance of and by platforms presents a novel challenge that requires new principles and different designs. How can science inform policy-making to regulate platform ecosystems so that we can preserve the value that platforms and their participants co-create while upholding and promoting the principles of social justice? We propose a Magna Carta composed of seven principles that balance the rights of individuals and duties of core platforms.

Keywords: digital platforms, privately-owned public infrastructure, social justice, magna carta

JEL Classification: Z28, P20, M10