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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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America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
George Soros
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There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.
George Soros
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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.
George Soros
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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.
George Soros
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The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions.
George Soros
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Markets are imperfect. So you do need regulation, knowing that the regulators are also human.
George Soros
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If the bubbles contain a misconception, as they always do, then it can't be maintained forever.
George Soros
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I commissioned two political experts to advise me about what I could do to oppose the re-election of President Bush.
George Soros
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I don't use my money to gain political influence for my private interests, which is what many rich people do, and what, in a sense, market fundamentalism does, because it is in the interests of people who have a lot of money to have as little taxes as possible.
George Soros
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However, even a strong government can't perform miracles. It needs money from the taxpayers.
George Soros
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Discount the obvious, bet on the unexpected
George Soros
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My sense of insecurity keeps me alert, always ready to correct my errors.
George Soros
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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.
George Soros
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Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.
George Soros
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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.
George Soros
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The scope for improvement is infinite, precisely because perfection is unattainable.
George Soros
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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.
George Soros
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The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).
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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My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.
George Soros