The global crisis is caused by pathologies inherent in the global financial system itself.
About this quote
- What does it mean?
- Soros states the global crisis stems from flaws in the financial system itself.
- In plain terms
- He says the crisis comes from the financial system's own flaws.
- What can you take from it?
- Fix the system to fix the crisis.
Where it applies
Putting it to work
Questions to consider
- Who caused the crisis?
- Is the system broken?
Another view
Blaming the system ignores external factors like regulation.
More from George Soros
Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to…
Permalink to quote #15 It is time to recognize that financial markets are inherently unstable. Imposing market discipline means imposing instability, and how much instability can soc…
Permalink to quote #17 The development of a global economy has not been matched by the development of a global society. The basic unit for political and social life remains the natio…
Permalink to quote #14
Related quotes
It does not follow, because our difficulties are stupendous, because there are some souls timorous enough to doubt the validity and effectiveness of our ideals…
Herbert HooverHerbert Hoover quote #36 All these countries [in East Asia] have spent 40 years trying to build up their economies and a moron like Soros comes along with a lot of money to speculate a…
George SorosGeorge Soros quote #82 This American system of ours ... call it Americanism, call it capitalism, call it what you like, gives to each and every one of us a great opportunity if we on…
Al CaponeAl Capone quote #2