alt Hacker News> A certain kind of person loves markets because they provide decisions on complex questions at scale. And like, that's not NEVER true, but it also takes for granted a lot of rational thinking
It also tends to assume a certain hypothetical ideal of perfect information, where all prices and transactions are public, secret deals don't exist, and ownership/interests are never hidden.
Information asymmetry is one of those things that is so obvious that you'd expect it to be fundamental to economics, but it wasn't until the mid-90s that mainstream economics started to take it seriously. https://en.wikipedia.org/wiki/Information_asymmetry