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George Soros

The New Paradigm for Financial Markets

George Soros is well known as a highly successful financier and philanthropist. In The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means he explains his core philosophy of Reflexivity, as well as giving his view on where the world economy is heading.

Soros explains why he thinks classical economic theory, with its idea of perfect knowledge and progress towards equilibrium, is of little use. Our knowledge is always imperfect, and one of the main reasons for this is that we are part of the processes we are trying to measure. This is the concept of reflexivity. A prime example is that of an economic bubbles, where everyone is following everyone else. In the later part of the book Soros discusses the recent economic downturn, and the worrying trends in American politics under the Bush administration.

I found the book rather lacking in depth, but I think that to be inevitable in a short work like this. Soros clearly wanted to avoid producing a wordy philosophical tome, (he explains how the fact that he clearly wasn't likely to get on as an academic philosopher led to his career in finance), and he's hardly going to produce a step by step guide to making lots of money. If you accept that then you'll find plenty of interest in this book.

Amazon.com info
Hardcover 208 pages  
ISBN: 1586486837
Salesrank: 904880
Weight:0.65 lbs
Published: 2008 PublicAffairs
Amazon price $4.96
Marketplace:New from $0.75:Used from $0.15
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Amazon.co.uk info
Hardcover 162 pages  
ISBN: 1586486837
Salesrank: 693743
Weight:0.65 lbs
Published: 2008 PublicAffairs
Marketplace:New from £2.45:Used from £0.01
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Amazon.ca info
Hardcover 208 pages  
ISBN: 1586486837
Salesrank: 342267
Weight:0.65 lbs
Published: 2008 PublicAffairs
Marketplace:New from CDN$ 1.32:Used from CDN$ 0.01
Buy from Amazon.ca





Product Description
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing 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 implications for our nation and the world.