If all you get are force-fed lies and propaganda in the "market of information", it will be a small wonder you may never see free markets. And may never experience what real purpose of capitalism was supposed to be about.
I found following excellent article expounding more on this topic, have at it!
When consumers lack information, free-market system falters
Economists refer to following situations as markets with asymmetric information: Only seller being privy to private information about the transaction, and chooses to either not disclose such information or lie about it. Unlike buying a piece fruit or a shirt, where customers know exactly what they are purchasing, in markets with asymmetric information buyers do not know whether they are receiving the service or product that is in their best interest. And, more importantly, sellers in these markets do not have any incentive to reveal the truth, because doing so does not serve the seller's interest.BTW, my motivation in posting this is not to dig deep into technical nitty-grittys of issues like internet freedom, net neutrality, Google search relevance/ranking algorithm, algorithms of various social networking sites like youtube/Facebook/twitter etc. Of course, those topics are extremely important.
However in this "blogette", I'm merely triggering brainstorm of thoughts at much higher policy/philosophy level with respect to the media-industrial-complexes.
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