For Free?

When brainstorming with the group on what the word privacy means to us in the 21st century, I remembered an essay I wrote in first year Introductory Economics.

To sign up for most social media accounts whether Facebook, Snapchat or Instagram, it's free. However, in a capitalist neoliberal system where companies such as Facebook are profit-maximising, does 'for free' really exist? In economics, it's a straight forward no. As long as there are benefits, there are always costs. In this case, I might not have to pay with money to sign up for an account on Facebook, payment is a different currency. Privacy. In WoN, Adam Smith wrote "a certain propensity to truck, barter, and exchange one thing for another (1790,117)." Simply, I believe as consumers, we have exchanged our privacy i.e. our personal data for convenience.

Facebook is one of the main technological companies on the market. When I sign up for a profile on Facebook, I'm asked to give Facebook my personal details in exchange for a profile. My full name, email address or  phone number, date of birth and gender. The amount of privacy we have on social media has been increasingly questioned as consumers are bombarded by target advertisements. And the accuracy of those ads are scarily on point. But Facebook are able to collect data even when users are offline and can access information from users internet browsing. 

My first reaction is anger. I'm outraged that I'm being monitored and tracked online or offline so I can essentially buy more stuff. Then I remember, when we sign up for these profiles, we accept the terms and conditions and willingly supply our personal information so we can connect and share our lives with friends, families and even strangers. 

I question, has a line been crossed? 

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