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> The basis of the free market is full information for all participants, It’s not, and in fact it is opposite of truth. The reason, for example, why free market economy works better than centrally planned one, is precisely that obtaining full knowledge is impossible, so it is impossible to effectively centrally plan, whereas in market economy, each individual contributes their own private knowledge that is unavailable to other people, through participating in market and communicating it through price mechanism. See, for example, Thomas Sowell’s “Knowledge and Decisions”, which is precisely about this point, or for more classic reference, Hayek’s “The Use of Knowledge in Society”. Again, to reiterate, the entire point of market economy is that nobody has full knowledge. |