| The exchange markets that can be considered close to "perfect," in your opinion, are exclusive affairs pertaining to the owners of industries and the financial sector - in other words, the people who can afford to subscribe to and subsequently thrive on financial news would've gotten ahead regardless, as it is a self-serving system.
However, even in the inevitable events of information imbalance, there cannot be a bias of information towards the buyer. If the buyers know more than the sellers, the sellers die from lack of profits. However, if the sellers know more than the buyers (eg: HMOs), then they can run a racket scheme for all eternity because the buyers can never pull out of the system - they can never simply die. You'll never have $50 computers, but you will have $500 doctors' visits.
So, whenever the former happens, the system is self-correcting. Whenever the latter happens, as is often, the system stagnates. Even in theory, capitalism is flawed.
Now we must apply a patch on the flawed system, and that patch is called the labor strike. And it is ugly, violent, and fought with as much vigor and viciousness as the market itself. Someday this will come to a head.
. . . whenever any government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute a new government, laying its foundations on such principles and organizing its powers in such forms as to them shall seem most likely to effect their safety and happiness. |