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Stossel explains why private property beats the “tragedy of the commons”

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From StosselTV

This Thanksgiving, Say Thank You to “Private Property”

Did you know that the pilgrims almost starved after they arrived at Plymouth Rock? That’s because they were forced to farm “collectively.” The corporation that funded the expedition said, “grow food together. Divide the harvest equally.”

This is a terrible idea. It creates what economists call the “tragedy of the commons.” When you share property and the results of your work, people farm until the land is barren, don’t work as hard, or steal food from others.

Young people from Students For Liberty take part in an experiment to demonstrate this “tragedy of the commons.” It shows the solution is private property, which is what saved the pilgrims.

Governor William Bradford finally decided to “assign each family a parcel of land.” Once the pilgrims had property rights, they became much more productive and brought in huge harvests — which they were then able to share with the Indians.

So this Thanksgiving feast, don’t forget to say “thanks, private property!”

—— Don’t miss a single video from Stossel TV. Sign up here: www.johnstossel.com/#subscribe-form ——

John Stossel created Stossel TV to explain liberty and free markets to young people. Prior to Stossel TV he hosted a show on Fox Business and co-anchored ABC’s primetime newsmagazine show, 20/20.

Stossel’s economic programs have been adapted into teaching kits by a non-profit organization, “Stossel in the Classroom.” High school teachers in American public schools now use the videos to help educate their students on economics and economic freedom. They are seen by more than 12 million students every year.

Stossel has received 19 Emmy Awards and has been honored five times for excellence in consumer reporting by the National Press Club. Other honors include the George Polk Award for Outstanding Local Reporting and the George Foster Peabody Award.

 

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Home Depot gave personal data to Meta without valid customer consent: watchdog

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Ottawa – Retailer Home Depot shared details from electronic receipts with Meta, which owns the social media platform Facebook, without the knowledge or consent of customers, the federal privacy watchdog has found.

In a report released Thursday, privacy commissioner Philippe Dufresne said the data included encoded email addresses and in-store purchase information.

The commissioner’s investigation discovered that the information sent to Meta was used to see whether a customer had a Facebook account.

If they did have an account, Meta compared what the customer bought at Home Depot to advertisements sent over the platform to measure and report on the effectiveness of the ads.

Meta was also able to use the customer information for its own business purposes, including user profiling and targeted advertising unrelated to Home Depot, the commissioner found.

It is unlikely that Home Depot customers would have expected their personal information to be shared with a social media platform simply because they opted for an electronic receipt, Dufresne said in a statement.

He reminded companies that they must obtain valid consent at the point of sale to engage in this type of activity.

“As businesses increasingly look to deliver services electronically, they must carefully consider any consequential uses of personal information, which may require additional consent.”

Details of a person’s in-store purchases might not have been sensitive in the context of the home-improvement retailer, but they could be in other cases, revealing information about an individual’s health or sexuality, he added.

At a news conference, Dufresne suggested the Home Depot matter was not an isolated case.

“Our investigation focused on one organization, one situation, but our sense is that these tools are widely used. And this is why the message today is that all organizations should review their practices.”

Home Depot told the privacy commissioner it relied on implied consent and that its privacy statement, available through its website and in print upon request at retail outlets, adequately explained the company’s use of information. The retailer also cited Facebook’s privacy statement.

The commissioner rejected Home Depot’s argument, saying the privacy statements were not readily available to customers at the checkout counter and shoppers would have no reason to seek them out.

“The explanations provided in its policies were ultimately insufficient to support meaningful consent,” Dufresne’s statement said.

He recommended that Home Depot stop disclosing the personal information of customers who request an electronic receipt to Meta until it is able to put in place measures to ensure valid consent.

Home Depot fully co-operated with the investigation, agreed to implement the recommendations and stopped sharing customer information with Meta in October, the commissioner said.

This report by The Canadian Press was first published Jan. 26, 2023.

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Meta funds a limited number of fellowships that support emerging journalists at The Canadian Press.

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Alberta

Alberta halts rate hikes on auto insurance for private passenger vehicles for 2023

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Edmonton – The Alberta government says it will not approve any more rate hikes for auto insurance on private passenger vehicles until the end of the year.

The government says in a news release that it shares concerns from the public and is imposing the cap while it works to find long-term solutions.

The move comes more than three years after the United Conservative Party government lifted a cap on hikes imposed by its NDP predecessors.

Finance Minister Travis Toews had previously resisted calls to reinstitute the cap, calling it an ineffective stopgap solution while pointing to reforms his government made in 2020 to stabilize rates over the long haul.

The government now says factors like inflation and supply chain issues for auto parts are affecting rates in the short term and must be addressed.

Premier Danielle Smith had called for her government to take action on insurance late last year, after a report commissioned by the Insurance Corporation of British Columbia found Albertans are paying among the highest rates  in Canada.

This report by The Canadian Press was first published Jan. 26, 2023.

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