Perfect #markets only exist in theory, and if they have existed - TopicsExpress

Perfect #markets only exist in theory, and if they have existed World wont, because according to General Equilibrium - formalization of Adam Smiths invisible hand - productivity and #growth will not happen due to perfect #information - no #incentives to change output. Free market is based on static efficiency, and the world is #dynamic. Considering the market failures we need active role of government to correct them - natural #monopoly is one of them. Before any proper regulatory framework is in place, #privatization for the sake of privatization only leads to asset stripping. Today we have enough data to verify it. Readings on privatization on.fb.me/1l02w76

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