in Cambridge Journal of Economics
March 2016; p ublished online March 2015 .
Journal Article. Subjects: History of Economic Thought (to 1925); History of Economic Thought (1925 onwards); Information, Knowledge, and Uncertainy; Market Structure and Pricing; Economics; Financial Regulation. 12976 words.
According to Adam Smith, markets and trade are, in principle, good things—provided there is competition and a regulatory framework that prevents ruthless selfishness, greed and rapacity...