Facebook’s Economic Lesson for Obama

Facebook’s Economic Lesson for Obama

The Facebook IPO debacle is a lesson in economics to President Obama, liberals in general, and to those that are expressing interest in feel-good "benefit corporations."

In the several short days since Facebook went public and its stock value tanked, people are asking themselves, "What went wrong?" One compelling explanation relates to some of Zuckerberg's comments in recent SEC filings.

Those comments include:

"Facebook was not originally created to be a company. It was built to accomplish a social mission, to make the world more open and connected... We’ve always cared primarily...