Quarterly Journal of Austrian Economics
Author:
Thomas J. DiLorenzo
Online Publish Date:
Volume 14, Number 2; Summer 2011 The notion that so-called asymmetric information is a source of market failure is deeply flawed. Asymmetric information is essentially a synonym for “the division of knowledge (and labor) in society,” which is the whole basis for trade and exchange and the success of markets. The real asymmetric information