The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means

by George Soros

Overview

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. Soros, whose breadth of experience in financial markets is unrivaled, 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 the worst financial crisis since the 1930s," writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers 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 our nation and the world.

Product Details

ISBN-13:	9781586486846
Publisher:	PublicAffairs
Publication date:	05/06/2008
Sold by:	Hachette Digital, Inc.
Format:	eBook
Pages:	192
File size:	934 KB

About the Author

George Soros was named as the Financial Times Person of the Year for 2018, citing the standard bearer of liberal democracy and open society: the ideas which triumphed in the cold war, now under siege from all sides, from Vladimir Putin's Russia to Donald Trump's America.

For more than three decades, George Soros has used philanthropy to battle against authoritarianism, racism and intolerance. Through his long commitment to openness, media freedom and human rights, he has attracted the wrath of authoritarian regimes and, increasingly, the national populists who continue to gain ground, particularly in Europe.

He is chairman of Soros Fund Management and founder of a global network of foundations dedicated to supporting open societies. Soros is the author of several bestselling books including The Crash of 2008 and The Crisis of Global Capitalism.

Table of Contents

Introduction     vii
Setting the Stage     xiii
Perspective
The Core Idea     3
Autobiography of a Failed Philosopher     12
The Theory of Reflexivity     25
Reflexivity in Financial Markets     51
The Current Crisis and Beyond
The Super-Bubble Hypothesis     81
Autobiography of a Successful Speculator     106
My Outlook for 2008     122
Some Policy Recommendations     142
Conclusion     153
Acknowledgments     161
About the Author     163

Editorial Reviews

George Soros is a billionaire speculator whose voice is amplified by real money. His distaste for the Bush administration runs deep: He put millions of dollars into Sen. John Kerry's 2004 presidential campaign. Yet his account of the credit crash is personal and revealing, not mere political bashing.
—The Washington Post

Peter Behr