Comment by reverendsteveii
Comment by reverendsteveii 5 days ago
Remember when they told us that capitalism would cause people to trip over themselves to give us what we want and need because that would naturally be where most of the profit could be had? Why do you think it didn't do that in this case? The answer of course is that facebook does serve it's customers. It serves the people who can afford to buy ads, and what it serves them is you.
Honestly, everything would be much better if either a.) people just paid for stuff or b.) governments decided ad-tech in its present form should not be a thing, and regulated the retention of personal data as a liability, to make targeted advertising less-personalized/unprofitable.
As a system for discovering price, free markets work really well. The downsides comes from politicians not understanding/caring the limitations of free markets and what kinds of problems they're simply not intended to solve. These are the economic factors beyond price. More broadly, they're our values.
If we outsource the need for philosophy/wisdom to the free markets then there is no reason why the market will not demand child labor, 7 day work weeks, single use everything, and privatized security forces. We failed to take action earlier, and the same kind of stuff has already happened to the environment. Not to mention that gambling and security fraud are making a comeback.