The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROSMost of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
More George Soros Quotes
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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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There is always a divergence between our perception and what actually exists.
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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.
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The world order needs a major overhaul.
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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.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
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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.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.
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Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
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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.
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To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
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What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.
GEORGE SOROS