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The Crisis of Global Capitalism: Open Society Endangered | 
 enlarge | Author: George Soros
Publisher: Little, Brown
Category: Book
List Price: £17.99
Buy Used: £0.21
You Save: £17.78 (99%)
New (5) Used (44) Collectible (3) from £0.21
Rating:  3 reviews
Sales Rank: 64898
Media: Hardcover
Pages: 288
Shipping Weight (lbs): 13.6
Dimensions (in): 9.2 x 6.2 x 1.1
ISBN: 0316849162
Dewey Decimal Number: 339
EAN: 9780316849166
ASIN: 0316849162
Publication Date: December 7, 1998
Availability: Usually dispatched within 1-2 business days
Condition: **UK SHIPPED**SWIFT RELIABLE SERVICE** With friendly customer care! "Buy with confidence, Buy Book EcoLOGICal" Interesting read!
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| Editorial Reviews:
Amazon.co.uk Review
The symptoms are hard to ignore. First the Thai crisis precipitated the currency collapse in Asia. Next the Russian meltdown inflicted temporary chaos on the Western financial system. And the recent volatility of the world's stock markets has caused most investors a lot more than heartburn. The connection? According to billionaire philanthropist George Soros, there's a profound and dangerous imbalance between the explosive growth of the global economy and the development of a free and open society. In The Crisis of Global Capitalism, Soros argues that in the last 20 years, the emergence of "market fundamentalism"--that is, the idea that markets need only be regulated by the forces of profit and competition--has distorted the role of capital to the extent that it "is today a greater threat to open society than any totalitarian ideology." Not that Soros advocates the demise of the capitalist system. On the contrary, Soros himself has made billions on Wall Street, and it's his aim to save capitalism from itself. While his theory of reflexivity reads a bit thick, his analysis of our present financial system is lucid and convincing. If wondering about the stability of today's markets keeps you up at night, then put this book at your bedside. Highly recommended. --Harry C. Edwards, Amazon.com
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| Customer Reviews:
 A clarion call for regulation of the world economy February 14, 1999
6 out of 9 found this review helpful
It comes as a surprise that a person that has earned billions because of lack of regulation of the world economy has concluded that unless international regulations are established capitalism will collapse. Some of the reasons given are: an increase in the impact of self-interest, a further weakening of other values, globalisation leading to intensified competition with less room for social and environmental considerations, Internet transaction that will even further weaken the moral constraints that operate when people know each other personally, financial markets and operators that are amoral and the world's financial system that is inherently unstable without world-wide regulation. There is more to the book than regulation. In addition to regulation Soros advocates the adoption of the values of "open society". To understand what is meant by "open society" in some depth it is necessary to read the brilliant and fascinating book "The open society and its enemies" by Karl Popper. Popper is the spiritual guru of Soros. There is no real difference between an "open society" and a well functioning democracy. Soros uses "open society " because "the Western intellectual tradition ought nor to be imposed indiscriminately on the rest of the world in the name of universal values" he writes. Soros does not provide much detail as to what these other systems might be. Therefore the quote from Churchill still stands, "Democracy is the worst system of government I know except for those other systems that have been tried from time to time". Soros also puts great emphasis on the need to strengthen values other than self-interest. What these values should be is not clearly specified. The book "Competitive and ethical" by Giles Wyburd provides a useful description of values relating to competition and Popper for society. Two concepts in the book are given great prominence: fallibility and reflexivity. Reflexivity at first sight is no more than the phenomenon that if one makes a decision based on reflection of what the impact will be that the outcome frequently not corresponds to the expectations. But Soros takes this impact of thinking on reality one step further. In economic and social science it is always the case that the actors influence with their thinking and actions the outcome. It is therefore not at all like natural science where the decisions of the observer do not influence events. This even applies to the Heisenberg particles that could not care less what the observer thinks about them. Soros therefore concludes that economic- and social science is a misnomer, they should be referred to as alchemy. Fallibility is the same as everything can be and should be improved but in a more urgent form. That is, unless one discovers a flaw in time disaster may occur. It is one word for what Socrates said "whatever authority I have rests solely upon my knowing how little I know". Returning to the world, Soros makes some very interesting suggestions on how the United Nations should be reformed to play the role it should play. In total a fascinating book that may not have all the answers but is an eye opener concerning the problems we face with many exciting suggestions as to what can be done about them.
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