Monday, December 28, 2009

Are We Being Unfair to Goldman Sachs?

The principle value held dear by those who believe a voluntary market transaction between 2 consenting adults is by definition "fair". Enough Nobel Prizes in economics have proved that if there is "asymmetry" in information, "fairness" is not what it may seem.

Asymmetry in information means in a transaction I know something you don't in whatever we are buying from or selling to each other.

You decide after reading this longish article in the current issue of Vanity Fair here whether world opinion is being fair to Goldman Sachs.

1 comment:

Anonymous said...

Brim over I agree but I about the brief should acquire more info then it has.