The Crash of 2008 and What it
Means: The New Paradigm for
Financial Markets by George Soros
A Significant Analysis, Many A College-Level Classroom Could Use This For
Discussion
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.

Personal Review: The Crash of 2008 and What it Means: The
New Paradigm for Financial Markets by George Soros
Mr. Soros wrote a detailed description of the crash of 2008. His expertise
in making money off changes in currency truly allowed him to foresee this
horrendous crash.
Interestingly, he present a new theory (Reflexivity) in which he argues
the actions a market take undermines the market's ability to truly
understand the situation. He also strongly argues that market
fundamentalist that believe markets should be un-regulated are totally
wrong, and the market do not want equilibrium or equality of information.
The support for this claim is cited in a detailed history of actions for several
of the past US crashes. In all the first 9 chapters are a very interesting and
in some cases riveting account of the crash and his theories.
The last chapters give his recommendation of what the world financial
authorities should do to rectify the crash, and he did this for good reason
given he was requested a congressional meeting to discuss the crash with
other hedge fund managers. Interesting book I would recommend it.
Dr. Brian Glassman
Ph.D in Innovation Management Purdue University
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