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The Bubble Of American Supremacy: Correcting The Misuse Of American Power Hardcover – December 15, 2003
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Soros believes that this administration's plans abroad come from the same sort of "bubble" psychology that afflicted our markets in the late 1990s. They have used a real fact, our overwhelming military supremacy, to create a deluded worldview, that might makes right and that "you're either with us or against us," in the same way that the recent boom used a real fact, the growth in technology, to lead to a delusion, the "new economy."
Like the best of the books that have responded quickly to world events, The Bubble of American Supremacy has a clear, intriguing, comprehensive thesis that makes necessary, and compelling, order of our seemingly disordered world.
- Print length224 pages
- LanguageEnglish
- PublisherPublicAffairs
- Publication dateDecember 15, 2003
- Dimensions5.5 x 0.75 x 7.75 inches
- ISBN-101586482173
- ISBN-13978-1586482176
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Editorial Reviews
Amazon.com Review
From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
From Booklist
Alterman, the author of What Liberal Media? [BKL F 1 03], and Green, a New York City Democrat, offer a critique of both the president and his policies, with one of their main premises being that Bush starts with conclusions and then finds facts with which to frame them. So how does he make decisions? According to the authors, by asking what the religious right wants, what big business wants, and what the neocons want, and then proceeding accordingly. Chapters on the environment, business fraud, civil liberties, race, education, and, of course, foreign policy offer myriad examples of the authors' theories on how Bush misleads. It's all presented in highly readable fashion, but with the awakening economy and the passage of the Medicare bill, some of the information will seem out date. Those familiar with the anti-Bush canon will find this entry closest to David Corn's Lies of George W. Bush [BKL O 1 03], but Alterman has a higher profile and will make a bigger splash on the news shows.
Soros, who has made headlines for donating millions of dollars to stop the reelection of George Bush, is a man who puts his money where his mouth is. With the publication of this book, he may find that his words are also a potent weapon for realizing his goal. The founder of a fund-management group, Soros uses the metaphor of the economic bubble to show that the Bush administration's foreign policy is based on assumptions that are not only incorrect and deceptive but also will eventually burst. Step-by-step, he exposes a foreign policy that he believes contradicts American principles and has no hope of obtaining its goals of supremacy. He pulls no punches: "I contend that the Bush administration has deliberately exploited September 11 in order to pursue policies that the American public would not have otherwise tolerated." Soros offers historical perspective, social theory, and his own keen observational skills to make his points. This may be the one anti-Bush book that reaches an audience beyond the Democratic amen corner. Ilene Cooper
Copyright © American Library Association. All rights reserved
Review
About the Author
From The Washington Post
George Soros has a heart of gold and resources to match. At the London School of Economics, Karl Popper's vision of the "open society" came to underlie Soros's political thinking. Soros settled in the United States in 1956. His success as a financial speculator of genius included his legendary 1992 bet against the pound sterling, which netted him more than $1 billion in a few weeks. After he amassed a fortune estimated by Forbes magazine at $7 billion, he turned his attention to a unique philanthropic goal -- promoting open, decent, democratic society throughout the world -- an effort to which he has contributed nearly $5 billion. Wags described him as the only individual with his own foreign policy and suggested during the Clinton era that Soros does what the American government would do if it had the money. By itself, his imaginative role in undermining the Soviet Union and nudging the nascent democracies developing throughout its former empire would qualify him as a secular saint.
In The Bubble of American Supremacy, Soros's basic contention is that the Bush administration has deliberately and deceptively exploited the terrorist attacks of Sept. 11, 2001, in order to pursue radical policies "that the American public would not have otherwise tolerated." He views the Bush dream of American supremacy as unobtainable -- and a contradiction of America's traditional principles. Soros passionately believes that Bush's policy "endangers our values as well as our security." And because America is so powerful, he also argues, the Bush agenda also endangers the world.
Soros traces his sensitivity to the language of political extremism to his own background. "I grew up as a Jew in Hungary during World War II. I lived through both German and Soviet occupation and learned at an early age how political systems can affect your very survival. When I hear President Bush say that 'either you are with us or you are with the terrorists' I hear alarm bells." He has a similar reaction when John Ashcroft declares "to those who scare peace-loving people with phantoms of lost liberty, my message is this: Your tactics only aid terrorists." Soros declares, "this is not the America I chose as my home."
Even though such criticisms score many palpable but conventional hits on administration targets, Soros's positions are often muddled. He urges that the United States should have treated the Sept. 11 attacks not as acts of war but as crimes against humanity and that "crimes require police work, not military action." If language has meaning, this would have ruled out the American attack on Afghanistan. But at another point Soros writes, "the invasion of Afghanistan was justified by its role as the home base of al Qaeda."
Forced analogies do not help. In characterizing the drift of Bush policy-making away from America's normal ideological equilibrium in global diplomacy, Soros compares it to the stock market's boom-and-bust cycle. Use of terms -- such as "reflexivity," "radical fallibility," "the human uncertainty principle" and "fertile fallacies" -- that require an explanatory appendix also does not aid the cause of clarity.
Soros asserts as facts propositions that are debatable. Did the perpetrators behind Sept. 11 want the United States "to react the way we did"? Other "facts" are simply wrong. John Ashcroft has not "banned plea bargaining," as anyone recalling the fate of John Walker Lindh or following prosecution efforts in the Enron scandal would realize. At other times, Soros floats predictions that are almost certainly wrong -- for example, that the president's approval rating "is likely to sink as low as it had been high." Here Soros is stating that before the election Bush's approval rating will go lower than that of any previous president. Last month, Soros forecasted that the economy would hold at least through the elections. This makes his prediction about the president's popularity even more incomprehensible. All too often, Soros finds it sufficient to state his view without any sustained effort to support his position.
It is startling to read a man who considers himself something of a philosopher acknowledging that he was "not even aware of natural rights until I started studying" the neoconservative "view of the world." He believes that "Leo Strauss, who supposedly influenced Paul Wolfowitz and other neocons, cottoned on the first sentence of the declaration [of Independence] and derived, from the idea of self-evident truths the concept of natural rights," a concept that Soros believes "plays an important role in the ideology of American supremacists." He thinks that natural rights are "associated with conservative arguments and papal pronouncements" and that it is appropriate to distinguish between his concept of the open society and natural rights.
As the Columbia Encyclopedia states, "the classic expressions of natural rights are The English Bill of Rights (1689), the American Declaration of Independence (1776), the French Declaration of the Rights of Man and the Citizen (1789), the First 10 Amendments of the Constitution of the United States (known as the Bill of Rights, 1791), and the Universal Declaration of Human Rights of the United Nations (1948)." There is no opposition between the open society as expounded by Soros and the doctrine of natural rights.
Soros does not have either Henry Kissinger's talent for describing the complexities of the political world or Paul Krugman's ability to deploy relentless logic to skewer the Bush administration. Rather, his strength is in grasping the big picture, determining how he can make a difference, and succeeding in improving the world. He has pledged that "I shall do everything I can" to ensure that the president is defeated in this November's election. He has already contributed more than $12 million to that cause. Given Soros's track record, the president should be worried.
Reviewed by Daniel I. Davidson
Copyright 2004, The Washington Post Co. All Rights Reserved.
Product details
- Publisher : PublicAffairs; 1st edition (December 15, 2003)
- Language : English
- Hardcover : 224 pages
- ISBN-10 : 1586482173
- ISBN-13 : 978-1586482176
- Item Weight : 12 ounces
- Dimensions : 5.5 x 0.75 x 7.75 inches
- Best Sellers Rank: #1,021,113 in Books (See Top 100 in Books)
- #1,443 in National & International Security (Books)
- #7,153 in Political Science (Books)
- #26,883 in World History (Books)
- Customer Reviews:
About the author

George Soros is the chairman of Soros Fund Management and the founder the Open Societies Institute, a global network of foundations dedicated to supporting open societies. He is the author of several best-selling books including The New Paradigm for Financial Markets/The Crash of 2008 and What It Means, The Bubble of American Supremacy and The Age of Fallibility. He was born in Budapest and lives in New York City.
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Soros's thesis is that US hegemony has gone too far. Our pernicious methods have all but guaranteed exponential growth in international problems unless we do something to curtail our powerful military actions. The response to 9/11 should have been more of a police investigation --not a military action. On these points Soros is absolutely correct. Epuration of Hussein is something upon which Soros seems to be indifferent; but he offers a very good analysis of the Bush administration's failure to adequately understand, plan, and accomplish a "war on terror." The Bush administration has failed miserably due to an emotional reaction driven by fundamentalist beliefs. The result is a tremendously misguided use of our military overseas. At home, civil liberties and social engineering in America have become easy targets for the Bush administration's didactic homeland security thugs.
Sadly, Soros readily accepts the Democratic party line and its candidates as an oscitant alternative. While he is somewhat critical of the United Nations he is all too ready to accept the UN as a legitimate governing body over international issues. The fact is Democrats will just throw my hard earned money down a rat hole faster then the Republicans. The UN is a corrupt joke with absolutely no legitimacy. Furthermore, Soros offers no criticism toward others in the G7. In fact, he fawns over the European nations morphing into a French apologist half way through the book. Students of history know that the Europeans created much of this gerrymandered mess and now we are forced to deal with the aftermath.
Soros rejects the notion of the moral imperative. Instead Soros is motivated by the Popperian idea that absolute right and wrong cannot be known. He calls it the "human uncertainty principle." (197) Based on that Soros humbly suggests that he may be wrong, but he is willing to take one for the team in an effort to open up the dialogue and stop the insanity. While I admire his effort and do agree that the Bush administration is clearly out of control, moral imperatives do exist and do not necessarily have to be based on religious foundations. Soros instead suggests a more subversive methodology for achieving open societies and ridding the world of dictators and other leaders who stand in the way. His critique of the US policy toward the states of the former Soviet Union, for example, is right on the money. However his attack on a state's right to protect sovereignty is way off base and he loses a lot of points by constantly revisiting this idea. Cultural differences alone make this an insane idea, let alone the multitude of metaphors acted upon as truth in the world.
I think George Soros is a good American who means well. He cares deeply about nurturing freedom and open societies. He understands that we are clearly playing a zero sum game in Iraq. This book offers an excellent critique of the failures built into US policy. He likens it to a bubble economic condition where the result can be "quite catastrophic, similar to a bubble's bursting." (203) Soros offers some weak solutions in chapter seven, but I think his goal is less solution based and more focused on stopping the freight train to destruction. Soros does underestimate the fact the there are still really bad people in the world that need to be eliminated before his utopia can be realized. Strangely, Soros offers no detail on how to finance his ideas beyond suggesting that the US tax payer continue to foot the bill. Wrong answer George. While this book is by no means a quietus (Soros even says it is not its function), it is worth your time regardless of your politics. The Republicrats have become homogenized talking heads and we need more meaningful rhetoric like the material presented in this book.
Consider the background of Soros and Bush. Soros survived the Nazis and Communists in Hungary, got to the US in 1956 and had enough business acumen to become a billionaire. Bush is the son of Old Establishment money and political patronage who never earned a cent in his life, always relying on his Daddy's wealthy friends. Soros became rich by understanding the motivations and actions of others; Bush became president because political advisers Karl Rove and James Baker saw him as a pliant puppet,
Does that make either man a foreign affairs expert? No.
Soros' foreign expertise comes from the $500 million he spends every year to encourage genuine democracy around the world. Bush's policy comes from a narrow group of American Supremacist reactionaries who advocate a unilateralist approach which other nations may join but not influence. Therein lies the difference between the two: Bush has an America First policy, Soros advocates cooperative international solution.
Who is right? Well, in the world of business, Soros' ideas of cooperation instead of confrontation works well. He outlines his approach with an articulate skill in this book, criticizing the Bush mistakes and saying other nations can offer invaluable help. Soros is the modern equivalent of President Woodrow Wilson who created the League of Nations, a brilliant idea which failed due to American isolationism and its failure to counter aggression. Like Wilson, Soros believes in rational people making intelligent decisions.
In brief, it is the essence of his book. I recently re-read 'Common Sense' by Thomas Paine, the 1776 book that was the intellectual foundation for the American Declaration of Independence. Soros has written the modern international equivalent, as well-reasoned, eloquent and impassioned as Paine. However, there is a difference. Paine faced King George III, who may have been nuts but was obviously very astute. Today, America faces an amorphous irrational terrorism based on an utterly insane religious fundamentalism.
Events in Iraq, Afghanistan and other Mid-East countries may well have an impact on the 2004 election. The choice will be between American Supremacist in a "follow us or get ready to fight us" tactics or a policy based on American Leadership with a "we'll respect your views" type of consultation and cooperation.
Soros has been there. As a Jew in his native Budapest, he survived in the impact of the "Germany Above all Others" policy. He survived the utterly irrational communist fundamentalism. America made him vastly rich. He has been funding democratic programs in Europe since the 1980s. It's an incredible personal schooling on which to base his views.
The 2004 election debate will likely be on the economy, with foreign policy as the runner-up. Much of the talk show debate involves extremists screaming at each other; Soros offers an intelligent alternative to the current quagmire.
Just as Mr. Soros has spent $500 Million a year for more than a decade trying to relieve suffering and increase opportunity any where in the world that needs it, he has also spent many hours writing a series of books that explain a clear way to look at future needs and the tools to develop the International Policies that will meet those needs.
I can't recommend this or any other of Mr. Soros efforts strongly enough, you'll never look at the world the same way again.











