Wednesday, August 22, 2012

asymmetric information

In 2001, Stiglitz, a former chief economist at the World Bank, and arch critic of the IMF, won the Nobel prize for economics for his theory of "asymmetric information". When some individuals have access to privileged knowledge that others don't, free markets yield bad outcomes for wider society. - The Price of Inequality by Joseph Stiglitz – review
эвфемизм... это называется insider trading. за это срок дают. но не всем.

жж