This paper reconsiders the outpacing argument, the belief that changes in law and other means of regulation cannot keep pace with recent changes in technology. We focus on information and communication technologies (ICTs) in and of themselves as well as applied in computer science, telecommunications, health, finance, and other applications, but our argument applies also in rapidly developing technological fields such as environmental science, materials science, and genetic engineering. First, we discuss why the outpacing argument is so closely associated with information and computing technologies. We then outline 12 arguments that support the outpacing argument, by pointing to some particular weaknesses of policy making, using the United States as the primary example. Then arguing in the opposite direction, we present 4 brief and 3 more extended criticisms of the outpacing thesis. The paper's final section responds to calls within the technical community for greater engagement of policy and ethical concerns and reviews the paper's major arguments. While the paper focuses on ICTs and policy making in the United States, our critique of the outpacing argument and our exploration of its complex character are of utility to actors in other political contexts and in other technical fields.