The more
information provided by this major economic player (the most dominant
in most countries) - the more smoothly and efficaciously the Market
will operate. The converse, unfortunately, is also true. The less open
the government, the more latent its intents, the more shadowy its
operations - the more cumbersome the bureaucracy, the less functioning
the market.
2. From Government to the Firms - The same principles that apply to the
desirable interaction between Government and Market, apply here. The
Government should disseminate information to firms in its territory
(and out of it) accurately, equitably and speedily. Any delay or
distortion in the information, or preference of one recipient over
another - will thwart the efficient allocation of economic resources.
3. From Government to the World - The "World" here being multilateral
institutions, foreign governments, foreign investors, foreign
competitors and the economic players in general providing that they are
outside the territory of the information disseminating Government.
Again, any delay, or abstention in the dissemination of information as
well as its distortion (disinformation and misinformation) will result
in economic outcomes worse that could have been achieved by a free,
prompt, precise and equitable (=equally available) dissemination of
said information.
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