"But that doesn't mean that a pre-existing information symmetry is necessary for an efficient market"
The literal textbook prerequisite for efficient market is not just informatuon symmetry, its perfect information. You shoupd know that if you are making 'free market can do no wrong' arguments.
Its like if all arguments about physics where made by 1st year university students that never moves beyond 'a hypothetical 100% efficient car on a frictionless surface hits another and has a perfectly elastic collision, what is the new velocity'
> The literal textbook prerequisite for efficient market is not just informatuon symmetry, its perfect information.
Please point me to that textbook.
Who says that free markets can do no wrong ever?
(I'm mostly saying that some markets might have some problems, sure. But most of the time most real world regulation dreamt up by real world politicians and implemented by real world civil servants etc is unlikely to improve them.)
The literal textbook prerequisite for efficient market is not just informatuon symmetry, its perfect information. You shoupd know that if you are making 'free market can do no wrong' arguments.
Its like if all arguments about physics where made by 1st year university students that never moves beyond 'a hypothetical 100% efficient car on a frictionless surface hits another and has a perfectly elastic collision, what is the new velocity'