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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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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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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.
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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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The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future they help to shape it.
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Political debate is more interested in manipulating the truth, than finding the truth.
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To be successful, you need leisure. You need time hanging heavily on your hands.
George Soros
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My main concern is with the world order
George Soros
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My approach works not by making valid predictions but by allowing me to correct false ones.
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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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You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.
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Once a trend is established it tends to persist and to run it’s full course.
George Soros
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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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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.
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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.
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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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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
George Soros
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I am not a Zionist, nor am I am a practicing Jew, but I have a great deal of sympathy for my fellow Jews and a deep concern for the survival of Israel.
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My original intention was to spend the money in my lifetime.
George Soros
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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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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