The Crash of 2008 and What it Means: The New Paradigm for Financial Markets

Author: George Soros
Publisher: PublicAffairs
Released: 2008

Editorial reviews:

"Totally compelling." BBC Business editor Robert Peston

"They're wrong about oil, by George. In short, the standard economic assumption that supply and demand drive prices is only a starting point for understanding financial markets. In boom-bust cycles, the textbook theory is not just slightly inaccurate but totally wrong. This is the main argument made by George Soros in his fascinating book on the credit crunch, The New Paradigm for Financial Markets, launched at an LSE lecture last night." The Times

"The next generation of economists will have to understand financial bubbles rather than ignore them, as Greenspan and his fellow central bankers have done. They would be well advised to give Soros's theory of reflexivity serious consideration." Sunday Times

"(Soros) present(s) a very interesting and disturbing view of how free markets behave, and the nature and extent of the crisis we're in." Sunday Business Post

"This was a book that George Soros badly wanted to write. It is probably not what many of its readers expect to read. But it shows that in his deeper thinking about the way markets operate, Soros was several decades ahead of his time... His insights are clear and concisely expressed. They are worth reading for anyone interested in the topic." Financial Times

"The runners in the race for the White House should stop and listen to Soros." Independent on Sunday"

Product Description:
In the midst of one of the most serious financial upheavals since the Great Depression, George Soros, the legendary financier and philanthropist, writes about the origins of the crisis and proposes a set of policies that should be adopted to confront it. Soros, whose breadth of experience in financial markets is unrivaled, places the crisis in the context of his decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.

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