Many argue that unregulated markets would fail due to lack of consumer knowledge, or information asymmetry. But competition in free markets actually gives rise to all kinds of mechanisms that help consumers make informed decisions. This is as true of medical tests for any other good.
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.
Vipin Veetil is an economics assistant professor at the Indian Institute of Technology Madras. He has a PhD in economics from George Mason University and was a postdoctoral fellow at University Pars 1 Pantheon-Sorbonne. Vipin works in the area of monetary economics, network economics, and agent-based modeling.
Akash Kumar is a senior year Development Studies major at the Indian Institute of Technology Madras. He also leads academic programs for the South Asia Students for Liberty. He is deeply passionate about contextualizing the liberty movement to suit the realities of South Asia and has a career interest in entrepreneurship and public policy.