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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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Buda Pest
György Schwartz
György Soros
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More quotes by George Soros
An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
George Soros
Changeless society is characterized by the absense of alternatives.
George Soros
My original intention was to spend the money in my lifetime.
George Soros
Esperanto was a very useful language, because wherever you went, you found someone to speak with.
George Soros
Market prices are always wrong.
George Soros
Markets are imperfect. So you do need regulation, knowing that the regulators are also human.
George Soros
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.
George Soros
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
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
You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.
George Soros
My main concern is with the world order
George Soros
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.
George Soros
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
The hardest thing to judge is what level of risk is safe.
George Soros
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
George Soros
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
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.
George Soros
In politics, manipulating reality can take presidence over finding reality.
George Soros
When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
George Soros
I think that my foundation uses the money better than the government does. In any event, I do pay taxes.
George Soros
