Product Description

George Soros is a legend in the world of finance. His Quantum Fund has been the best-performing investment fund in history and his foundations have helped reshape the post-Cold War world. Now Soros applies all of his wisdom, expertise and insight to explain what's happening in the collapsing global economy. The Russian economy has collapsed, leading to punishing inflation and economic hardship; scores of Japanese banks are in ruin; the once-booming economies of Thailand, Malaysia and Indonesia have imploded; and even in Europe and America the markets lurch violently, wiping out gains with each passing week. In THE CRISIS OF GLOBAL CAPITALISM Soros dissects the current crisis and economic theory, revealing how theoretical assumptions have combined with human behaviour to lead to today's calamities. He shows how unquestioning faith in market forces blinds us to crucial instabilities, and how those instabilities have chain-reacted to cause the current crisis which has the potential to get much, much worse. Offering brilliant solutions to the global meltdown, this is essential reading for anyone involved with the new economy - that is, all of us.

Product Details

• Amazon Sales Rank: #710932 in Books
• Published on: 1998-11
• Number of items: 6
• Binding: Hardcover
• 288 pages

Amazon.co.uk Review
The symptoms are hard to ignore. First the Thai crisis precipitated the currency collapse in Asia. Next the Russian meltdown inflicted temporary chaos on the Western financial system. And the recent volatility of the world's stock markets has caused most investors a lot more than heartburn. The connection? According to billionaire philanthropist George Soros, there's a profound and dangerous imbalance between the explosive growth of the global economy and the development of a free and open society. In The Crisis of Global Capitalism, Soros argues that in the last 20 years, the emergence of "market fundamentalism"--that is, the idea that markets need only be regulated by the forces of profit and competition--has distorted the role of capital to the extent that it "is today a greater threat to open society than any totalitarian ideology." Not that Soros advocates the demise of the capitalist system. On the contrary, Soros himself has made billions on Wall Street, and it's his aim to save capitalism from itself. While his theory of reflexivity reads a bit thick, his analysis of our present financial system is lucid and convincing. If wondering about the stability of today's markets keeps you up at night, then put this book at your bedside. Highly recommended. --Harry C. Edwards, Amazon.com

SPECTATOR
* 'An authentic financial genius'

THE TIMES
* 'His success has been unparalleled in the history of finance'

Customer Reviews

Quantum Theory successfully applied to Global Capitalism
Having successfully developed classical theories of global capitalism to their ultimate conclusion, George Soros now applies quantum theory to capitalism and the Open Society.

Using the new Popper equations he is able to dispense with the anomalous Milosevic particle and to apply Albright spin to the classical Mahatir orbital such that Global Capitalism now means pretty well whatever George says it means.

In this work George Soros has progressed far beyond the outdated theories of the Lamont universe. He is clearly a great asset to the University of Illinois.

Revolutionary!

sadly out of touch with economic thought.
re-inventing the wheel and calling it by a different name is not at all interesting

Not enough pictures...
In the Alchemy of Finance Mr. Soros expounded upon his theory of reflexivity - an oft misunderstood, albeit ill explained, belief in the circularity of markets. In the Crisis of Global Capitalism Mssr. Soros attempts to demonstrate how this reflexivity will be the downfall of civilization. While a valiant attempt the would be philosopher king fails to make his argument clear. A few pictures or images - please see Mr. Plato's divided line - might have helped.