An Extended Study of the Regulatory Object of Economic Law: Theoretical Reconstruction in the Digital Economy Era

DOI: https://doi.org/10.62517/jel.202614416

Author(s)

Xinwen Wang

Affiliation(s)

Faculty of Law, Xinjiang University of Finance and Economics, Urumqi, Xinjiang, China

Abstract

The digital economy has brought out some of the fundamental flaws in economic law (the so-called "state-market-firm" triad). The regulatory approach proposed in this paper is an expansive one for data elements, platforms and algorithms, and criticizes the classic doctrine of "integration of vertical and horizontal relationships" for failing to take into account the non-competitive nature of data or the quasi-public nature of platforms. A comparison of the EU's Digital Marketplace Act and the US Algorithmic Accountability Act shows that the regulatory focus has gradually shifted from ex post control to ex ante regulation and algorithmic accountability. This paper proposes a new framework: to understand the target of regulation in terms of dynamic behaviors, instead of sticking to static categorization; platforms should be allowed to assume certain public responsibilities, while setting up a complete institutional arrangement regarding data and algorithms. The resulting reconfiguration positively reconciles innovation and the rule of law, enabling economic law to keep pace with the digital age without jeopardizing social interests.

Keywords

Economic Law; Regulation; Digital Economy; Platform Economy; Data Elements; Algorithmic Governance; Platform Liability; Cross-Border Data Governance

References

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