I mean, companies publish their privacy policies right there for anyone to read, and about 99.9% of people just accept and click on through. And Big Data likes it that way, at least so far. They are paying lobbyists to keep regulation out. I am all for putting the brakes on hyper-aggressive militants who over-regulate without evidence (EPA, everyone being paid off by Greenpeace and Union of Concerned Scientists, etc.) but the idea that some libertarian wonderland is possible is just silly. No standards are as bad as too many.
There is no “market solution” for ethics - Cathy O'Neill, Mathbabe.org