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Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention, and I wouldn't underestimate the value of that. But they're not designed to take care of social needs.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
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György Schwartz
György Soros
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More quotes by George Soros

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I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.
George Soros
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
George Soros
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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.
George Soros
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Find the trend whose premise is false, and bet against it.
George Soros
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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
George Soros
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To be successful, you need leisure. You need time hanging heavily on your hands.
George Soros
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As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.
George Soros
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Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.
George Soros
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Just as the process of repealing national alcohol prohibition began with individual states repealing their own prohibition laws, so individual states must now take the initiative with respect to repealing marijuana prohibition laws.
George Soros
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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.
George Soros
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It is much easier to put existing resources to better use, than to develop resources where they do not exist.
George Soros
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It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.
George Soros
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In politics, manipulating reality can take presidence over finding reality.
George Soros
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My main concern is with the world order
George Soros
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Every bubble has two components: something - some real trend, and a misconception about that trend.
George Soros
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Now that I have called you on your false accusation, you are using additional smear tactics.
George Soros
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The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
George Soros
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I think that my foundation uses the money better than the government does. In any event, I do pay taxes.
George Soros
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These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.
George Soros
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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.
George Soros