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- Referencing Styles : APA
- Course Code: ECON 509
- Course Title: Economics Assignment
- University: Adler University
- Country: US
Apple and Facebook clearly benefit from each other, and society as a whole benefits as well. Being able to easily check Facebook on your I-Phone increases the value of both Facebook and Apple. However, they are currently clashing. Apple wants to allow App users on their phone to easily prevent App producers (like Facebook) collecting and sharing user data. By doing so, Apple’s profits will likely increase since their revenue model is charging for Apps. They argue publicly that their real reason is social welfare: they care about individuals’ privacy. Facebook, in contrast, earns profits by selling data (much from I-Phone use), so this policy change from Apple could significantly reduce Facebook’s revenue. Of course, Facebook says the policy is bad for society because it will harm small and new businesses that target advertise (using Facebook data collection) to grow their business.
A short background is here: Using the notions of efficiency developed in this module, if your goal was to maximize social well-being and efficiency, whose side would you take and why? Be sure to discuss the pros and cons of both sides, not just the one you prefer! Please read the following article: What is the main conclusion of the article? What evidence was supplied to support that conclusion? If true, what is the implication of the conclusion for public policy and economic well-being? Lastly, do you believe the conclusion is, indeed, true? Why or why not?