CBO, WEF, DRM and other TLAs

David Weinberger reports on a speech by Douglas Holtz-Eaken, Director of the Congressional Budget Office at a World Economic Forum meeting discussing copyright regulation: The CBO Challenge

Move slowly. "A great deal of caution should be taken about changes in copyright law." Why? Because the laws of unintended consequences are particularly applicable. He said he urges Congress to ensure sufficient property rights only to provide incentives for creativity, and allowing the greatest possible use of creative works.... There's no reason to craft copyright laws to protect the status quo. Instead we should focus on copyright as a means of allocating creative works." He ended by saying: "One of the most interesting things is the ability of DRM to enact a vast array of different contractual arrangements between producers and consumers. Congress should forebear to legislate which type of DRM. And we're aware of the law of unintended consequences.