From ancient times to the present, information has made the world go round, from the most routine of transactions to the most complex. One critical issue therefore is what legal rules, if any, should govern the creation, dissemination and use of information.  The importance of this issue predates the internet and even the computer. As befits the the topic I will take a conceptual and abstract approach to my subject, and examine the issue of the legal regulation of information in the light of first principles. I will not be commenting specifically on New Zealand law, since I am only too aware of my lack of detailed knowledge in that field. Rather most of my specific references will be to American laws, which enables me to criticise them vigorously whithout inviting trouble and confusion.