Faculty: Publication Abstract
Brett M. Frischmann, Assistant Professor
Loyola University of Chicago, Law School
Minnesota Law Review, Vol. 89, pp. 917-1030, 2005
An Economic Theory of Infrastructure and Commons Management
Abstract:
What is the best way to manage resources that provide both public and private benefits? For years, academics have debated this question with respect to transportation systems, communication networks, environmental resources, scientific research, and a variety of other "infrastructural" resources. Many press for private control of such resources, arguing that the market most efficiently distributes their respective costs and benefits. Others take the position that these resources should be managed in an openly accessible manner. Advocates for this approach maintain that private control often is overly restrictive and unfairly allocates benefits to a few private parties.
In his ambitious article, Professor Frischmann identifies the unifying characteristics of these infrastructure resources and, from this analysis, develops a theory of infrastructure that promises to redefine the current open access versus private control debate. Frischmann's infrastructure theory demonstrates how open access to infrastructure resources generates significant value for consumers and society. His theory suggests that the benefits of open access and the corresponding costs of restricted access are significantly greater than reflected in current debates. Frischmann supports his theory by example, demonstrating how private control of various infrastructure resources- lakes, basic scientific research, and the Internet- may prevent society from realizing their full value. This exciting new theory has the potential to reframe the debate within intellectual property, cyberlaw, telecommunications regulation, and many other legal areas.
Note: Professor Lawrence Lessig published a Reply titled Re-Marking the Progress in Frischmann in the same edition of the Minnesota Law Review.
Keywords: Infrastructure, commons, property, information, environment, intellectual, Internet, propertization, privatization, deregulation, commercialization, network, externality, public good, demand-side, tragedy of the commons, free riding, network neutrality, spillover
JEL Classifications: D23, Q20, D62, D80, K00, K11, L30, L40, L90
