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A comment on California vs. social – requires ad revenues to go to journalists. Parent comment

Re:California vs. social – requires ad revenues to go to jou... by hellojesus on Friday June 02, 2023 @05:58PM (#36171338)
Free markets don't allocate capital in the best way measured by societal goodness. They allocate capital in the most efficient way relative to the demands of other participants.

This means that goods/services are regularly not produced because it is unprofitable. If for some reason local news is profitable, then anyone that wants to consume it could easily step in to produce it.

Efficiency doesn't necessarily mean good. But it does prevent or at least minimize wasteful economic activity. Anything outside that realm is a good candidate for a hobby.

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Re:California vs. social – requires ad revenues to go to jou... by comte7092 on Friday June 02, 2023 @06:37PM (#36171734)
> Efficiency doesn't necessarily mean good.

That’s my point, just because it’s a product of the market, doesn’t mean it is what’s best for society.

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Re:California vs. social – requires ad revenues to go to jou... by hellojesus on Saturday June 03, 2023 @10:56PM (#36182652)
Agreed, but it's still the best method of determining "good" we've designed as humans.
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