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The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
Economist
Financier
Investor
Philanthropist
Philosopher
Trader
Writer
Buda Pest
György Schwartz
György Soros
Becoming
Illegal
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United
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Criminalization
Used
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Extensive
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Countries
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Marijuana
Many
Negative
Costs
Cost
Prevent

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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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If the bubbles contain a misconception, as they always do, then it can't be maintained forever.
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Changeless society is characterized by the absense of alternatives.
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Esperanto was a very useful language, because wherever you went, you found someone to speak with.
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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.
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Money values do not simply mirror the state of affairs in the real world valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.
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Markets are imperfect. So you do need regulation, knowing that the regulators are also human.
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Who most benefits from keeping marijuana illegal? The greatest beneficiaries are the major criminal organizations in Mexico and elsewhere that earn billions of dollars annually from this illicit trade - and who would rapidly lose their competitive advantage if marijuana were a legal commodity.
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
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As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions ... I felt justified in ignoring them on the grounds that I was playing by the rules.
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My original intention was to spend the money in my lifetime.
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Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
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There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.
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Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
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Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.
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