Review
"This was a book that George Soros badly wanted to write. It is probably not what many of its readers expect to read. But it shows that in his deeper thinking about the way markets operate, Soros was several decades ahead of his time... His insights are clear and concisely expressed. They are worth reading for anyone interested in the topic." --Financial Times
The next generation of economists will have to understand financial bubbles rather than ignore them, as Greenspan and his fellow central bankers have done. They would be well advised to give Soros's theory of reflexivity serious consideration." --Sunday Times
"They're wrong about oil, by George. In short, the standard economic assumption that supply and demand drive prices is only a starting point for understanding financial markets. In boom-bust cycles, the textbook theory is not just slightly inaccurate but totally wrong. This is the main argument made by George Soros in his fascinating book on the credit crunch, The New Paradigm for Financial Markets, launched at an LSE lecture last night." --The Times
The next generation of economists will have to understand financial bubbles rather than ignore them, as Greenspan and his fellow central bankers have done. They would be well advised to give Soros's theory of reflexivity serious consideration." --Sunday Times
"They're wrong about oil, by George. In short, the standard economic assumption that supply and demand drive prices is only a starting point for understanding financial markets. In boom-bust cycles, the textbook theory is not just slightly inaccurate but totally wrong. This is the main argument made by George Soros in his fascinating book on the credit crunch, The New Paradigm for Financial Markets, launched at an LSE lecture last night." --The Times
Product Description
This updated edition (new in paperback and with 4 added chapters) will be both definitive on recent events, and is set to become an enduring & classic philosophical treatise on the financial markets. In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future.George Soros, whose breadth of experience in financial markets is unrivalled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. 'This is a once in a lifetime moment', writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centres around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for the world.
About the Author
George Soros is chairman of Soros Fund Management and founder of a global network of foundations dedicated to supporting open societies. He is the author of several bestselling books including The Bubble of American Supremacy, Underwriting Democracy and The Age of Fallibility. He was born in Budapest and lives in New York City.
