Perfect Competition and the Transformation of Economics

Frank Machovec argues that the assumption of perfect information has doneuntold economic damage. It has provided the rationale for active stateintervention and ... » 

Frank Machovec argues that the assumption of perfect information has doneuntold economic damage. It has provided the rationale for active stateintervention and has obscured the extent to which entrepreneurial activitydepends upon the exploitation of asymmetric information. «