More musings induced by my Econ course… My textbook states that “market transactions are characterized by voluntary exchange coordinated by prices.” Except that there’s a big difference between “voluntary” and “well-informed.” One can do something voluntarily that is extremely poorly informed (examples abound), or one can be actively misled and misinformed. One of the arguments that my text makes for why advertising exists, and works, is that it increases the.. Read More