Overview

In this work, the author argues that the assumption of perfect information revolutionized economics, doing untold damage to the discipline. These concepts have provided the rationale for the sort of active state intervention long warned against by the classsical economists. It also obscured the extent to which the entrepreneurial activity, which brings long term benefits to society, depends upon the exploitation of asymmetric information.

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9780415115803

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The time is ripe for a book such as this.... the author refreshingly uses the theoretical arguments in support of his hypothesis.. <br>- Choice <br> Perfect Competition ... is a valuable and worthwhile contribution to understanding the history of economic thought and will be enjoyed for its informed insight and trenchant analysis. <br>- Review of Austrian Economics <br>

The time is ripe for a book such as this.... the author refreshingly uses the theoretical arguments in support of his hypothesis.. - Choice Perfect Competition ... is a valuable and worthwhile contribution to understanding the history of economic thought and will be enjoyed for its informed insight and trenchant analysis. - Review of Austrian Economics

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Frank Machovec

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