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Sun Apr 29, 2012, 08:24 PM

With the corporations acting to co-opt systems, economies and industries they keep good information

Last edited Sun Apr 29, 2012, 10:09 PM - Edit history (1)

from reaching the people. Monsanto buys an organization that thinks Monsanto is guilty of declining bee syndrome. The Prison industrial complex tries to stop the legalization of marijuana. Banks give loans to people not remotely qualified to pay them back. The corporations/industries are making up a "reality" as they go.

The main assumption in all economic models is that 'given perfect information' markets will find equilibrium. Well if the co-optocracy is out there destroying 'good information' then market failure will result as it did with the housing bubble.

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Reply With the corporations acting to co-opt systems, economies and industries they keep good information (Original post)
applegrove Apr 2012 OP
saras Apr 2012 #1

Response to applegrove (Original post)

Sun Apr 29, 2012, 08:53 PM

1. Game theory says that "perfect information" prevents cooperators from cooperating...

 

...it makes it too easy for any exploiter anywhere in the system to seek out and exploit the local advantage produced by cooperation.

In the big picture, localism needs to include information as well as material. That's why the Court has held for a long time that we have a right to privacy.

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