A hostile takeover environment demands that operating strategies be responsive to stock market signals.
Government standards send a market signal to business that encourages innovation.
There is another workaround which has the beneficial side-effect of sending a market signal: return the phone to Apple.
But the market signal that tells a company to dig more coal because buyers are ready to pay is one thing.
These muffle market signals and keep too many loss-making factories in business.
You do need market signals, and you do need rules.
One important question is whether consumers will act in response to market signals.
Credit derivatives provide market signals regarding the risk of particular investments.
This is a real good top-of-the market signal.
Decentralization, greater reliance on market signals and stronger individual incentives are all needed.