The New Paradigm for Financial Markets
George Soros
The New York Times Bestseller
'Soros' message for citizens, investors, politicians and regulators is to approach this new economy and new political order with humility. Be flexible and never dogmatic. Strive to find truth while realizing it's unattainable. It's false certainty that trips us up, in both investing and life.'
(Forbes.com)'It's time for a change in economic thinking, says Soros. The next generation of economists will have to understand financial bubbles rather than ignore them... They would be well advised to give Soros's theory of reflexivity serious consideration.'
Edward Chancellor (The Sunday Times (UK))'They're wrong about oil, by George: In short, the standard economic assumption that supply and demand drive prices is only a starting point for understanding financial markets. In boom-bust cycles, the textbook theory is not just slightly inaccurate but totally wrong. This is the main argument made by George Soros in his fascinating book on the credit crunch, The New Paradigm for Financial Markets.'
(London Times)In the midst of one of the most serious financial upheavals since the Great Depression, George Soros, the legendary financier and philanthropist, writes about the origins of the crisis and proposes a set of policies that should be adopted to confront it. Soros, whose breadth of experience in financial markets is unrivalled, places the current crisis in the context of his decades of study of how individuals and institutions handle the boom-and-bust cycles that now dominate global economic activity. ‘This is a once in a lifetime moment,’ writes Soros in characterising the scale of financial distress spreading across Wall Street and other financial centers around the world.
In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its global implications.
Soros's 'account of the credit crash is personal and revealing, not mere political bashing.'
Peter Behr (Washington Post)'fascinating'
(Sydney Morning Herald)George Soros
Author photo
George Soros is Chairman of Soros Fund Management, LLC and founder of The Open Society Institute.
He was born in Budapest in 1930. After surviving the Nazi occupation and then fleeing communist Hungary for England, he graduated from the London School of Economics. He then settled in the United States, where he accumulated a large fortune through the investment advisory firm he founded and managed.
Soros has been active as a philanthropist since 1979, and has established a network of philanthropic organisations that are now active in more than 50 countries. These organisations are dedicated to promoting the values of democracy and an open society. The foundation network itself spends about $400 million annually.
Soros is the author of several best-selling books, including The Bubble of American Supremacy. Underwriting Democracy, and The Age of Fallibility. He lives in New York City.
Website: http://www.georgesoros.com/
Extent: 208pp
Size: 210mm x 135mm
ISBN (13): 9781921372483
RRP: $27.95
Pub date: October 2008
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