The Crash of 2008 and What it Means
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Most Helpful Customer Reviews
6 of 7 people found the following review helpful
Format:Paperback
Surprisingly, this book was quite a good read even though I'm neither a banker nor investor and didn't understand the passages about financial products and investment schemes all that well. However, I find Soros' economic theory which he calls 'reflexivity' makes sense. Basically, what he says is that people seek to understand the world which they live in while at the same time manipulating it. This results in a distorted view and applied to economics means that none of the existing models can describe reality or predict the future. The trouble is that the complexity of reflexivity cannot be pressed into a scientific model and therefore only leaves us with a critique of existing economic theory.
Quote: 'Not only has the prevailing paradigm - equilibrium theory, and its political derivative, market fundamentalism - proven itself incapable of explaining the current state of affairs, it can be held responsible for landing us in the mess we are in. We badly need a new paradigm.'
I agree!
Quote: 'Not only has the prevailing paradigm - equilibrium theory, and its political derivative, market fundamentalism - proven itself incapable of explaining the current state of affairs, it can be held responsible for landing us in the mess we are in. We badly need a new paradigm.'
I agree!
1 of 1 people found the following review helpful
Format:Paperback|Amazon Verified Purchase
This is a good book to begin with, but very quickly the author becomes embroiled in very professional economic language which most laypeople will struggle to understand. Also Soros could be seen to talk too much about his own investments than about a real solution to the current economic crisis.
0 of 1 people found the following review helpful
Format:Paperback|Amazon Verified Purchase
George Soros' ability to predict the financial markets has confounded conventional economics, which have been proved wrong by the crash of 2008. Here Mr Soros outlines his philosophy, how the crash happened, and his proposals for making world economies work properly. George Soros' practical philosophy is applicable to all human activities.
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Most Recent Customer Reviews
b...ks
a case of emperors clothes ... where few have guts to say that a very successful entrepreneur can still write a load of uneducated bolox!
Published 20 months ago by ETLBAJB
I have read quite a few books related to the finacial crisis and this...
I work in financial services so I like to think I know a reasonable amount about how the financial world works. Read more
Published on 8 Dec 2009 by Paul G
thinking and reality
Thomas Aquinas defined truth as ad-equation between the thing and the intellect ("adaequatio rei et intellectus"), the ad-equation between reality and thinking. Read more
Published on 6 July 2009 by Ivo Cerckel
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