Facebook labels you as conservative, moderate, or liberal: Does it matter?

Facebook labels you as liberal, conservative, or moderate, and caters the ads on your newsfeed to match how it politically identifies you.

This information became available earlier this month, when the social media network introduced a new tool that gives users more control over the advertisements Facebook's algorithms customize for them. In the drop-down menu of a page that lists a user's ad preferences is an indiscreet box that reads “US Politics,” with an individual user’s political view in parentheses, as The New York Times first reported on Tuesday.

But...