| That is a tough one! I honestly am not sure, I imagine some sort of framework for corporate responsibility and transparency. Something like GRI [1] is a good start. The way I see it, the transparency itself would probably need to be regulated. If an organizition is not following transparency requirements, regulators sanction or whatever that particular organization. I have no idea what that would look like or how it would be implemented. That is still a long ways a way. The market has decided that opaqueness is acceptable because consumers are uninformed and transparency is not required. The market has taken advantages of holes in regulation. I believe a free market is the ideal market, but the only way it is ideal is if it is completely and truly transparent. Regulation exists in part because of lack of transparency. If the market was transparent, it would (in theory) regulate itself. I'm curious on your thoughts of what sorts of things market forces incetivize that are negative, I'm just trying to get a slightly better grasp of some of those things. Clearly we are not ready for an economy like this yet. But someday. I honestly think transparency plays a huge role in humanities survival. Maybe I'm crazy, who knows. https://www.globalreporting.org |
In other words - start with a perfect, transparent market with full and unbiased information available to all participants. Press the "Play" button. What happens? How soon will the market degrade itself, eschewing transparency and perfect information, because it's a more optimal point in the state space? Personally, I predict this is exactly what will happen.