Comments on: Bloomberg News sues the Fed under Freedom of Information Act http://www.creditwritedowns.com/2008/11/bloomberg-news-sues-fed-under-freedom.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: sstipe2021 http://www.creditwritedowns.com/2008/11/bloomberg-news-sues-fed-under-freedom.html#comment-3750 sstipe2021 Thu, 12 Feb 2009 14:51:07 +0000 http://www.creditwritedowns.com/2008/11/bloomberg-news-sues-the-fed-under-freedom-of-information-act.html#comment-3750 It would be appropriate for Bloomberg to send the Fed a reminder of the theory of perfect competition. In brief: it says that, for any particpant in our economic transactions system to deny information to another participant, has the effect of retarding the movement of the economy in the direction of maximum efficiency in the use of resources. Let's hope that Bloomberg will produce a hard hitting synopsis of this theory which will be repeated over and over in the news media, by politicians and business executives. It should be a well known, and often stated, fact that complete information and bright sunlight transparency will lead our economy more quickly along a path toward adquate food, clothing and housing for all humanity. It would be appropriate for Bloomberg to send the Fed a reminder of the theory of perfect competition. In brief: it says that, for any particpant in our economic transactions system to deny information to another participant, has the effect of retarding the movement of the economy in the direction of maximum efficiency in the use of resources.

Let’s hope that Bloomberg will produce a hard hitting synopsis of this theory which will be repeated over and over in the news media, by politicians and business executives. It should be a well known, and often stated, fact that complete information and bright sunlight transparency will lead our economy more quickly along a path toward adquate food, clothing and housing for all humanity.

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