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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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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
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Writer
Buda Pest
György Schwartz
György Soros
Society
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More quotes by George Soros

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Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.
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There is always a divergence between our perception and what actually exists.
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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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My sense of insecurity keeps me alert, always ready to correct my errors.
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The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.
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Market prices are always wrong in the sense that they present a biased view of the future.
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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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I'm only rich because I know when I'm wrong.
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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.
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I rely a great deal on animal instincts.
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A full and fair discussion is essential to democracy.
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It is much easier to put existing resources to better use, than to develop resources where they do not exist.
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Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
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Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.
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The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.
George Soros
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Well, you know, I was a human being before I became a businessman.
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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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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.
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Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.
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Increase your bets when you are confident and scale down your positions when you don't have conviction.
George Soros