Interesting, but imperfect information is not the only source of market failures — if by market failure we mean falling short of the utilitarian good. Externalities, things beyond the reach of the market, also have to be considered. Two examples: universal education and climate change. There is no market incentive to educate the children of others. However, if we fail to provide universal education, we risk severely degrading our intellectual capital as well as increasing dependency and crime. As for climate change, we can see how market forces have already led to a gross distortion in how scientific findings are conveyed to the public. The market, bound up with short-term profits, has no way to cope with the gathering catastrophe.
That said, a self-interested “singularity” could conceivably manipulate markets to address externalities. …At least, let’s hope so!
Regards,

Clay Farris Naff