Until recently, anyone wanting to delve into your personal history paid a high cost, effectively protecting us from excessive breach of privacy. That is no longer the case. But information sharing can be beneficial to consumers. So it's possible that laws against collecting data could restrict information that might be useful. The bottom line is that Congress should focus on ways to lower the cost of bargaining between affected parties.
Contract law can be a mechanism for agreeing on and enforcing privacy policies.
For example, marketers might collect data, but be required to disclose its contents and how it will be used. Suppliers of personalized data might have to post policies on how to view data and correct inaccuracies. There are no easy solutions to protect your privacy and mine from those wishing to profit from its use. There are, however, risks to our constitutional rights from formulating bad policy, especially if it restricts freedom of speech. Policy should make it easy to negotiate, specify each party's rights and allow the affected parties to bargain.