A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.
Market prices are always wrong in the sense that they present a biased view of the future.
The only thing that could hurt me is if my success encouraged me to return to my childhood fantasies of omnipotence – but that is not likely to happen as long as I remain engaged in the financial markets, because they constantly remind me of my limitations.
At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.
Markets can influence the events that they anticipate.
The eurozone status quo is neither tolerable nor stable. Mainstream economists would call it an inferior equilibrium; I call it a nightmare – one that is inflicting tremendous pain and suffering that could be easily avoided if the misconceptions and taboos that sustain it were dispelled.
Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
I give away something up to $500 million a year throughout the world promoting Open Society. My foundations support people in the country who care about an open society. It’s their work that I’m supporting. So it’s not me doing it.
An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
The worse a situation becomes the less it takes to turn it around, the bigger the upside.
Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
When money is free, the rational lender will keep on lending until there is no one else to lend to.
Once a trend is established it tends to persist and to run it’s full course.
Mankind’s ability to understand and control the forces of nature greatly exceeds our ability to govern ourselves.
Now that I have called you on your false accusation, you are using additional smear tactics.
Who most benefits from keeping marijuana illegal? The greatest beneficiaries are the major criminal organizations in Mexico and elsewhere that earn billions of dollars annually from this illicit trade – and who would rapidly lose their competitive advantage if marijuana were a legal commodity.
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.