[coldtea]

>I'm neutral on the question in this case, but really, any discussion of "capitalism" that goes beyond chapter one, page one of an undegrad economics textbook covers the point that efficient markets are not deceptive markets. Participants are assumed to share equal information.

So every discussion of "capitalism" that goes beyond chapter one is based on fairy tales?

[zozbot123]

No, it's just that markets where deception is common are not "efficient". A deceptive market can only result in complete unraveling, or exploitation of the honest, non-deceptive players (which is per say inefficient). There's no other possibility.

[coldtea]

Well, then there has never been an efficient market that also had the quality of existence...