Critics of public sector inefficiencies have long declared that 'government should be run like a business.' A business such as, say, Pacific Gas & Electric?
A gang of Wall Street hedge funds is jousting to own PG&E, leaving Californians with nothing but bad choices.
Then there’s Facebook, a Silicon Valley behemoth whose insensitivity to its responsibilities to its users and society at large has become a byword. Earlier this month, Sen. Elizabeth Warren , a candidate for president, labeled Facebook aGiven Facebook’s refusal to vet political ads for manifest untruths, not to mention its long history of breaches of users’ privacy, who could argue her point?
Facebook changed their ads policy to allow politicians to run ads with known lies—explicitly turning the platform into a disinformation-for-profit machine. This week, we decided to see just how far it goes.These cases point to our confusion over the proper role of government and private enterprise in our economy. Simply put, private enterprise invariably pursues its self-interest. There’s nothing wrong with that, within limits.
That’s why we have the Public Utilities Commissions and the Federal Communications Commission, not that they always function ideally .
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