On Alternet, Thom Hartmann argues that the internet has become a “'thing' every bit as powerful and profitable as manufacturing once was.” This, however, does not justify the business methods being practiced by these internet giants and they should be regulated much like industry was so that the use of private data can be under control.
But we have a long history in America of saying to business, “If that business model is destructive to our society, you can’t do it.”
We did it with slavery, we did it with child labor, we’re doing it with financially lucrative discriminatory practices from redlining to the race- and gender-pay-gap. Other examples include the minimum wage law, bans on predatory loan practices, and requiring companies not to pollute.
Just because a company can make money doing something doesn’t mean it should be legal and/or unregulated.
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