Stigler held markets give people wrong knowledge precisely by satisfying their views.

Evidence

Markets did give people what they wanted. But this was nothing to celebrate, because most people are instinctively predisposed to hold the wrong views about them. Markets produced the wrong kind of knowledge because they gave people what they wanted. — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 120

Categorization

• XREF: Echoes the Hayekian knowledge problem inverted - here the market’s efficient satisfaction of wants is itself the defect, clashing with how Stigler’s school is usually caricatured as pure market worship. — connects to: Stigler held that anti-market bias is religiously rooted and immune to economic training — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 112; Stigler saw markets as producing wrong knowledge because they satisfy popular prejudice — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 120
• DEEPTHINKING: A genuinely dense inversion - the classical liberal’s defense of markets turns on distrusting the very preferences markets satisfy, distinguishing marketplace-of-ideas rhetoric from consumer sovereignty.

Broader Connections

• Stigler saw markets as producing wrong knowledge because they satisfy popular prejudice #corroborates (0.98) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 120