The New Paradigm for Financial Markets
The Credit Crisis of 2008 and What It Means
About the summary
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.