Asymmetry of information and our economy

Without asymmetry of information, then there is no profitable business. With asymmetry of information, technological innovation could become profitable. Moreover, when the buyers know the cost of the sellers, then the maximum of the price the buyers are willing to pay is equal to the cost. Then there is no profit made for the sellers. Because no business could make profits, people have no incentive to start up their own business. If there is symmetry of information, the market solution becomes very inactive. Under such circumstance, social planning could achieve the allocation of resources, but the incentive for innovation, which I believe is the most valuable factor in advancing our economy, is still missing. Therefore, asymmetry of information always exists and is necessary for our economic growth.