Assuming there is no fraud among the buyers and sellers in a market exchange, Caveat Emptor — the principle that the buyer alone is responsible for determining the quality and suitablity of goods or services before a purchase is made — is the cornerstone of free market ideology. Implicit in this belief is the necessary albeit patently absurd condition in economic price theory that reliable information is freely available to the all the parties and potential parties to an economic exchange. After all, if information were truly free, the data processing and data-free manipulation industry of the post industrial society and its contemporary successor, the post-information era (an era synthesized by the petri dish of Pentagon, but now acculturated by the media and Wall Street), would be a non sequiturs. Today, for example, we have an economy where advertisers can profitably invest large sums of money in subliminally marketing their wares on reality TV, an invention to dumb down people, and make them more vulnerable to the subliminal marketing techniques they are being subjected to by conditioning viewers to substitute vicarious fantasy for realty.
Continue reading “Journal: Why Bail-Out Has Not Reduced Foreclosures”
