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.
GEORGE SOROSMarket prices are always wrong in the sense that they present a biased view of the future.
More George Soros Quotes
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The global crisis is caused by pathologies inherent in the global financial system itself.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
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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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If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one’s conceptions and what one does about them. Life can be seen as a fertile fallacy.
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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
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Misconceptions play a prominent role in my view of the world.
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Market prices are always wrong.
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It is credit that matters, not money (in other words, monetarism is a false ideology).
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Political debate is more interested in manipulating the truth, than finding the truth.
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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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In politics, manipulating reality can take presidence over finding reality.
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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
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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