The Age of Disinformation: The Role of Market Power in Information Space

15 Pages Posted: 18 Nov 2021 Last revised: 18 Jan 2024

See all articles by Dan Ciuriak

Dan Ciuriak

Ciuriak Consulting Inc.; Centre for International Governance Innovation (CIGI); C.D. Howe Institute; Asia Pacific Foundation of Canada; BKP Development Research & Consulting GmbH

Date Written: January 17, 2024

Abstract

It is a commonplace saying that we live in an age of disinformation, in a “post-truth” world, one of secrets and lies. And as revealed by periodic leaks by whistleblowers and eventual declassification of government-held information, there is “dark matter” in our knowledge universe just as there is dark matter and dark energy in the physical universe – unobserved quanta whose physical presence can only be inferred by their influence on the observed physical universe. This raises the question of how to detect the presence of such dark matter in our knowledge universe. The thesis of this paper is that basic economic logic implies that the extent of deceit varies with the stakes and with what might be termed “market power” in information space. As a corollary, disinformation likely follows a power law distribution. This provides a market-based explanation for the general validity of the aphorism that “honesty is the best policy” in day-to-day affairs, yet the effectiveness of the “big lie” technique. Testimony to the market power of governments in information space is the harshness of the punishment meted out to those who blow the whistle on governments, as compared to the rewards handed out by governments to those who blow the whistle on corporations where governments have an interest in disciplining corruption.

Keywords: secrets, lies, disinformation, information society, narratives, market power in information space

JEL Classification: Z13

Suggested Citation

Ciuriak, Dan, The Age of Disinformation: The Role of Market Power in Information Space (January 17, 2024). Available at SSRN: https://ssrn.com/abstract=3944863 or http://dx.doi.org/10.2139/ssrn.3944863

Dan Ciuriak (Contact Author)

Ciuriak Consulting Inc. ( email )

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Centre for International Governance Innovation (CIGI) ( email )

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