Tuesday, June 15, 2010
...about information. My apologies if this is somewhat scatological, but bear with me.
Information is like the grass in a pasture. It is a primary objective for the residents therein.
Mastication, digestion, and elimination result. Information follows a similar life-cycle with "Big Boys" doing the masticating, Institutions doing the digestion, and the retail audience is greeted with the elimination.
Yet another reason why silly "theories" like "efficient markets" which rely upon assumptions about the fungibility and universality of information fail to explain real economic events.