This "page" collects information about economics that I think will help us think about important progressive issues. There is some dispute about whether economics is really a "science" at all (like physics); I don't think it matters, but you can decide for yourself if you care. Is it best used to understand and explain what has happened in the past, or to predict what will happen in the future (or both)? Much of economics is incomprehensible without a good grounding in history, so you might find it useful to peruse our History page also.
The business model for your platforms is quite simple: keep users engaged. The more time people spend on social media, the more data harvested and targeted ads sold. To build that engagement, social media platforms amplify content that gets attention. That can be cat videos or vacation pictures, but too often it means content that’s incendiary, contains conspiracy theories or violence. Algorithms on the platforms can actively funnel users from the mainstream to the fringe, subjecting users to more extreme content, all to maintain user engagement. This is a fundamental flaw in your business model that mere warning labels on posts, temporary suspensions of some accounts, and even content moderation cannot address. And your companies’ insatiable desire to maintain user engagement will continue to give such content a safe haven if doing so improves your bottom line.
- Rep. Robin Kelly, an Illinois Democrat