The Austrian critique holds that perfect information is an unrealistic policy goal—analogous to demanding the elimination of friction in physics—since imperfect information is inherent to the world, making information-failure arguments a 'strawman' when judged against an idealized benchmark.

normativepending

Speaker

Russ Roberts

Evidence Quote

you can't have perfect information sure sort of a strongman critique of all these very idealized situation

Source

Clifford Winston on Market Failure and Government Failure 12/28/2009EconTalk
Created: 6/15/2026, 9:37:54 AM

My Notes

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