I put some thoughts on this topic few months back EFFICIENT MARKET HYPOTHESIS .

One of the major philosophical takeaways from the past 15 years has been the failures of the Efficient Market Hypothesis and the rise of Behavioral Economics. Consider, as a corollary, the argument assumption that many pro Free Market folks make: Markets are much more effective, efficient and productive than government mandates or regulations.

I do not disagree with that view. However, every now and again, Continue reading