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by vezzy-fnord
3786 days ago
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"Perfect information" is an assumption used in static Paretian general equilibrium models, but it does not reflect any existing dynamic reality, and it is not at all a necessary prerequisite for free markets. Market power is vulnerable. "Interchangeable goods and services" - I honestly have no idea how you could come up with such a delusional prerequisite. You seem to have confused neoclassical models for an attainable ideal compatible with empirical reality. But our world is one of disequilibrium, dispersed knowledge, plan coordination - ones most apt for a market and a free one at that. You are completely out of vogue. |
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