Does he say that? Because it's very wrong -- economics of imperfect information has been a dominant theme of microeconomics for the last 50 years. They gave A

Does he say that? Because it's very wrong -- economics of imperfect information has been a dominant theme of microeconomics for the last 50 years. They gave Akerlof, Stiglitz, and Spence the Nobel back in 2001. They gave a second Nobel in 2007 for mechanism design, which is on when and how you can design institutions so that imperfect information doesn't wreck everything.