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Soros And Market Fundamentalism - Papers Online

Soros And Market Fundamentalism

Many economists agree that there is a significant imbalance between the growth of global economy and the development of a free society. One of these economists who agrees with this point is George Soros. Soros bases his dilemma mainly on the Thai crisis that hastened the currency meltdown in Asia. Also the Russian collapse inflicted temporary chaos on the Western financial system, and most recently, the volatility of the world’s stock markets has caused most investors much tremor. George 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 ...

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right and wrong may change with technology and with social process; however, the involvement of the state in resolving conflicts, and in a democratic society, he sees as inevitable.
According to Soros’ opinion too, to be able to stabilize and regulate a truly global economy, the world will need a global system of political decision-making. In short, a global society is needed to support the global economy. A global society does not mean a global state. What makes Soros’ claims interesting is that the greatest opposition to this idea is coming from the United States. Nevertheless, there has never been a time when a strong lead from the United States and other like minded countries could achieve such powerful and benign results. With the right sense of leadership and with clarity of purpose, the U.S. and it’s allies could help to stabilize the global economic system and to extend the uphold universal human ...

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PAPER DETAILS

Added: 10/6/2004 07:42:46 AM
Category: Economics
Type: Premium Paper
Words: 353
Pages: 2

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