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38: Mass Media, Markets, and Human Malware: A Portal Q&A
The Portal
Social Media Is Dictating Our Tastes
Taste formation has in fact eluded any kind of analytic effort within the economics profession. Social media is both dictating our tastes and it is trying to figure out our tastes so that it can profit from at least the people who run the companies that social media is dominated by. I think we have a very interesting situation where we are both being influenced by media and we are influencing media in return. And now when you have a really complicated feedback loop like that, can you say anything about whether or not the market will tend towards a positive or a negative social outcome? That is, is the market going to efficiently get us to a better place or is it going to efficientlyget us to a
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