3 ms·
We only have a free (and self-correcting) market if there is perfect information. Jason is helping the free market by giving it access to better information.
by smanek 17y ago
We only have a free (and self-correcting) market if there is perfect information.
Jason is helping the free market by giving it access to better information.
- ynniv 17y ago> We only have a free (and self-correcting) market if there is perfect information Thats pretty idealistic. I say we have never had perfect information, and yet the world doesn't end.
- notauser 17y agoYou are actually describing (part of) a perfect market - a free market is just one without economic intervention and regulation by government except to regulate against force or fraud. (Thanks to Wikipedia for the description.) I would like to see more perfect markets or near-perfect markets but curiously enough they tend only to be stable with government intervention. A good example is the UK retail DSL market which was essentially created by regulation and has a very high degree of competition (and low prices!) within the constraints of the wholesale environment that contains it.
- pchristensen 17y agoThat's where I think governments do their best work - setting up clear rules that cause the interests of companies and the public to be aligned, then letting "the market" perform within that rule framework.