In this article for the Center for International Governance Innovation, Dipayan Ghosh discusses Facebook’s role in the media ecosystem, how the company achieved its economic importance, and how its business can be linked to the bevy of social harms that emerge from its existence. Given the adverse circumstances now attending on Facebook’s role in democratic societies, how can the bad be contained, and the good reinforced? The author calls for realignment and a correction of the incentives that encourage platforms to profit from harmful content. Such realignment would include policymakers’ recognising that the platform’s damaging business model is the result of an unregulated greenfield of economic opportunity that has been exploited at the expense of the citizen, and acknowledging a global movement to enable improved privacy, competition and transparency.
https://www.cigionline.org/articles/how-free-market-incentivized-facebooks-harmful-monopoly

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