Soros on unrealistic economic models, Maastricht, Karl Popper and the future
George Soros, the master of markets, gave a very interesting speech at the INET in Berlin. Not only are we trapped in the malfunctions of the Newtonian economic theories, but we are facing the worst ahead of us.
Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public,that economic theory has failed. But there is no similar consensus, even among participants of this conference, on the nature and implications of that failure. As a sponsor of INET I am delighted because it shows that INET is open to widely different strands of new economic thinking. But I am not only a sponsor; I am also the proponent of an alternative interpretation of financial markets and today that is what I should like to talk about.
Must watch video and full speech below.
Full speech here.