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

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Rated by buyers 4 out of 5 stars - Let Soros's words speak for themselves...
I believe this quote from Ch. 8 expresses what Soros really thinks, as opposed to the many subtle to blatant distortions of some of the reviewers:

"Clearly an unleashed and unhinged financial industry is wreaking havoc with the economy. It needs to be reined in. Credit creation is by its nature a reflexive process. It needs to be regulated to prevent excess. We must remember, however, that regulators are not only human but also bureaucratic. Going overboard with regulations could severely impede economic activity...Credit availability not only fosters productivity but also flexibility and innovation. Credit creation should not be put in a straight jacket. The world is full of uncertainty, and markets can adjust to changing conditions much better than bureaucrats. At the same time, we must recognize that markets do not just passively adjust to changing circumstances but also actively contribute to shaping the course of events. They may create instabilities and uncertainties that make their flexibility so valuable. Markets should be given the greatest possible scope compatible with maintaining economic stability."



Rated by buyers 3 out of 5 stars - Too much philosophy
The very first half of the book talks about philosophy. He could have just put in one chapter and the reader would have got the point. The second half of the books talks about the financial market. An average read.



Rated by buyers 5 out of 5 stars - Ingenious Incites
Soros captures the missing link in fundamentalist theory. If you do not understand Soros' theory of reflexivity you are missing a true understanding of the way markets work. Additionally, Soros outlines some of the problems with current policies in U.S and international regulation. If you care about your rights, open society, or the future of the United States, you should read this book. We must understand the problems we face, in order to address them.



Rated by buyers 1 out of 5 stars - Disappointment
I admire Mr. Soros for his philanthropy but I find this book disappointing. I was hoping to gain some insight into the economic crisis but instead got the wordy, unedited version of what amounts to a paper on his theory of reflexivity. The book contained too many extraneous pages about how he always wanted to be a philosopher, how criticisms of his initial theory were right (sort of) but also wrong and why he is now vindicated and is truly a philosopher. There was a chapter documenting trades he made recently that seemed out of place.

Had the editor done her job I think this book would have deflated into a paper which presented little to nothing new.



Rated by buyers 3 out of 5 stars - Wasn't too helpful
Found the book interesting but felt that it's premise and conclusions were obvious, especially given the current situation. I give him the benefit of the doubt that he couldn't have seen what ultimately would happen to our economy in the subsequent few months and he reviewed what had previously happened and made it easy to understand.

Bias or the individuals perception of a situation is involved in everything, especially with him as his political position is obvious in his book. He is an example of his own theory of relfexivity.

Think he is trying to develop a theory of ecomomics to prove he is an intellectual on par with his father. Although I enjoyed the book I don't think he has done it. The blurb by his son explaining that he buys and sells on the basis of his backaches is incredulus and doesn't help in giving his theories validity.


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