We have a booming global economy but we don't have a global society. Markets reduce everything, including human beings and nature, to commodities. Societies need more than this to prosper - such goals as political freedom and social justice.
About this quote
- What does it mean?
- Soros argues global economy lacks a matching global society. Markets commodify people but society needs freedom and justice.
- In plain terms
- We have a world economy but no world society. Markets treat humans like goods. societies need more.
- What can you take from it?
- Economies need social values to truly prosper.
Where it applies
Putting it to work
Questions to consider
- Do markets value people?
- What does a global society need?
Another view
Defining a global society is complex and debated.
More from George Soros
You attain superior long-term returns through preservation of capital and home runs. I'm not better than the next trader, just quicker at admitting my mistakes…
Permalink to quote #78 I've learned many things from him, but perhaps the most significant is that it's not whether you're right or wrong, but how much money you make when you're rig…
Permalink to quote #80 The worse a situation becomes, the less it takes to turn it around, the bigger the upside.
Permalink to quote #77
Related quotes
The almighty dollar, that great object of universal devotion throughout our land, seems to have no genuine devotees in these peculiar villages; and unless some…
Washington IrvingWashington Irving quote #4 The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupi…
John Maynard KeynesJohn Maynard Keynes quote #15 [W]e have things fundamentally backwards today: we let the needs of the economy dictate the nature of our society, while we should let the needs of our society…
Linda McQuaigLinda McQuaig quote #18