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We must recognize that as the dominant power in the world we have a special responsibility. In addition to protecting our national interests, we must take the leadership in protecting the common interests of humanity.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
Economist
Financier
Investor
Philanthropist
Philosopher
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Writer
Buda Pest
György Schwartz
György Soros
World
Economy
Addition
Humanity
Protecting
Responsibility
Dominant
Interest
Interests
Common
Recognize
Power
National
Take
Leadership
Must
Special

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The world order needs a major overhaul.
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Discount the obvious, bet on the unexpected
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I'm only rich because I know when I'm wrong.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.
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I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.
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Well, you know, I was a human being before I became a businessman.
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I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.
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China could easily emerge as the great winner if the Chinese leaders handle the situation well. On the other hand, they could also turn out to be the biggest losers if they handle it poorly. If the management turns out be wrong, this could lead to a political crisis in China.
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The sovereignty of states must be subordinated to international law and international institutions.
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The bureaucratic method of building an integrated Europe has exhausted its potential.
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In politics, manipulating reality can take presidence over finding reality.
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The generally accepted view is that markets are always right -- that is, market prices tend to discount future developments accurately even when it is unclear what those developments are. I start with the opposite view. I believe the market prices are always wrong in the sense that they present a biased view of the future.
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The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that's rather shocking for Americans to hear.
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The people currently in charge have forgotten the first principle of an open society, namely that we may be wrong and that there has to be free discussion. That it's possible to be opposed to the policies without being unpatriotic.
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At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.
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Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.
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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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However, even a strong government can't perform miracles. It needs money from the taxpayers.
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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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