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The New Paradigm for Financial Markets

The New Paradigm for Financial Markets

The New Paradigm for Financial Markets

The Credit Crisis of 2008 and What It Means

by George Soros

In the midst of the most serious financial upheaval in decades, 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 and dominate global economic activity. The prevailing paradigm for financial markets — that markets tend toward equilibrium and deviations from it are random — is both false and misleading, he argues, and only by exploring a new conceptual framework for how markets really work can we avoid disaster and economic ruin.

What You'll Learn

In this summary of The New Paradigm for Financial Markets, you will learn:

  • How the financial crisis is wreaking havoc on the financial system and threatens to engulf the economy.
  • Why the concepts of reflexivity and fallibility make an important contribution to our understanding of financial markets.
  • Why reflexivity is best demonstrated and studied in the financial markets.
  • How the theory of reflexivity applies to the unfolding financial crisis.
  • Why the United States needs to gain a better understanding of the situation in which it finds itself today.
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