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The renowned financier reconsiders the state of the world economy, and the arguments he made in his New York Times and Wall Street Journal bestseller The Crisis of Global Capitalism. Lauded by the New York Times as "brilliant and persuasive,"
...(more) and published in more than thirty-five foreign editions, George Soros's The Crisis of Global Capitalism became an instant classic. A must read for anyone concerned with the complex market forces that rule our global economy and that have thrust us into a state of financial flux and international economic insecurity. Now Soros takes a whole new look at the arguments he made in that book, incorporating the very latest in global economic and political developments. He shows how the recovery following the economic meltdown of 1998 may have been a false dawn, leaving us in a much more precarious position than we realize. He also explores surprising connections between events like the war in Kosovo and the economic wealth of nations. And he offers new insights into the fates of Russia, Asia, Europe and the United States. Demonstrating that our still unquestioning faith in market forces blinds us to crucial economic instabilities, Open Society provides an inspiring vision of how to fix the flaws in the system - suggestions that have already influenced leaders at the IMF, the World Bank, and in many national governments.(less)
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Source: Open Society: Reforming Global Capitalism, Page: 36
Contributed by: Janos Abel.
…The market is a hard task master: It does not allow either self-indulgence or consideration for others. What others think of you matters, but the results–measured by and objective criterion, money–matters more. Having an objective criterion encourages objective performance. That is what makes financial markets so efficient.: they turn people into profit-making machines. That has its merits, but a society dominated by financial markets could easily become inhuman. this is not a flight of fancy but a present danger.