Essentially, the capitalist economy is seen as a construct of imperfectly informed individuals, imperfectly coordinated through the market place. It is far from parody to claim that because more or less any outcome can be explained in principle on this basis – the real world is after all an information-theoretic market imperfection – it is not necessary to incorporate any other analytical principles. Indeed, it is simply a matter of identifying in practice the wide variety of informational imperfections and how they are handled in particular contexts. Policy is concerned with handling them better than leaving them to the market.

Ben Fine, SOAS. Not right. Maybe in both senses.