I think the answer to this lies in regulation, but I think we also need to start treating the thriving market for our personal data differently. Privacy and regulation is super important. But I think we, as "products" also need to become active, engaged participants in the economic market for our personal information. We should have profit sharing agreements with Facebook to resell our data, should we consent to data sharing. Only then, I think, will we really have a stake that is worth more than writing angry articles and blog posts.
I wrote an expanded version of this comment as a blog post here for anyone who wants to read it and comment, here or there. http://edwardbenson.com/facebooks-product-is-you