>Recent economists (e.g., Akerlof, Stiglitz, coincidentally both
>winners of the "Nobel" prize) have applied an information-theory
>approach that undermines Hayek's celebration of markets. (I guess you
>could say that they hoist Hayek on his own petard.) For example,
>Akerlof points to the problem of _asymmetric_ information and "adverse
>selection."
As did Smith & Ricardo - but who reads them anymore?
Doug