ABSTRACT
Specifically, I want to argue that the role of information in the economy is essential to our understanding of its workings. By itself, this proposition would seem to be so evident that it is not worth discussing. However, I want to argue that the process of acquiring information is more complex than is usually understood. As a result, the consequences for the economy are much different than the standard picture of economic theory. This approach may suggest some explan - ation of the occasionally erratic behavior of the modern economic system which has been observed throughout the last two centuries and more.
