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Open Society: Reforming Global Capitalism Hardcover – January 1, 2000

4.1 4.1 out of 5 stars 34 ratings

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George Soros's The Crisis of Global Capitalism became an international bestseller and an instant classic; a must read for anyone concerned with the complex market forces that rule our global economy and create both prosperity and instability. Now, in Open Society, Soros takes a new and provocative look at the arguments he made in that book, incorporating the latest global economic and political developments into his analysis. He shows how our economic and political arrangements are out of sync. Recognizing that our existing institutions are under the sway of sovereign states, he proposes an "open society alliance" with the dual purpose of fostering open societies in individual countries and laying the groundwork for a global open society. In leading up to his inspiring vision, Soros presents an iconoclastic view of the world that has guided him both in making money and spending it on his network of Open Society Foundations. This book sums up the life's work of an exceptional individual. George Soros is the best fund manager in history, a stateless statesman, and an original thinker.
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  • Reviewed in the United States on March 2, 2013
    George Soros' latest book, Open Society: Reforming Global Capitalism, is an updated version of his philosophy--philosophy being an unending search for wisdom. The billions he made from his wise investments in the stock market did not make him part of the problem, but part of the solution. He became a philanthropist, putting his money into a worldwide organization meant to support democracy and human rights in over 70 countries.

    In his overly long introduction, he apologizes for perhaps covering too much ground, but there can never be too much evidence. As working on his theory of evolution had been Darwin's whole life and summed up in his book, so too has Soros' theory of human behavior. It is not just open societies that he promotes, but also open minds. It is bound to be even more controversial than evolution due to our egotistical notion that we already know the truth about ourselves.

    As his primary interest is in saving our country from bankruptcy, he begins with the imperfections that concern our status as leaders of the whole world. Business, he says, is conducted for private gain, and is not designed to safeguard universal principles; our "freedoms" are being threatened by the "unbridled pursuit of self-interest" on the part of our leaders. What has come about is an unholy alliance between government and business.

    He began his philosophical search for the truth by examining his own shortcomings. His predictions had not been totally right due to miscalculations on his part--he was accused of crying wolf once too often. Looking back he saw that he believed that he was right about coming crisis; it was the timing that was wrong. Seeing that he was fallible, not infallible, he surmised that this was an ongoing universal problem. (Socrates called it hubris.)

    It seems the basic things we learn about ourselves apply to human nature. It is earthshaking to believe that we might be wrong, but when we start to think about it, what we have gained is an open mind.

    He makes up for his tedious background information, which was necessary for those, like myself, who knew nothing about the man or his books, by summing up the problem of a closed mind in the first paragraph of the first chapter. It seems we can live in an open society, and still be close-minded.

    "The concept of open society," he says, "is based on the recognition that our understanding of the world is inherently imperfect. Those who claim to be in possession of the ultimate truth are making a false claim, and they can enforce it only by imposing their views on those who differ...Acting on that understanding, we can create a society that is open to never-ending improvement. Open society falls short of perfection, but it has the great merit of assuring freedom of thought and speech and giving ample scope to experimentation and creativity."

    While he had never been worried about his reputation--he has been accused of being a communist for trying to save capitalism--he did come to see the importance of public opinion. He had to get the voting public to understand the problem. By adjusting his style (or seeing the importance of rhetoric) he became a popular speaker. What he also saw was that rhetoric, when used to further ulterior motives, becomes a way of becoming popular by crying wolf deliberately--the "common enemy" needing to be destroyed--the "infallible savior" being a do-gooder whose ways and means become the cause of his undoing.

    While Soros has no faith in reasoning, this is exactly what he was doing when he was thinking rationally. Wouldn't an Open Society Alliance, seeking for improvement in relationships between countries ultimately restore our reputation as a beacon of light, and also bring about a consensus of opinion? Haven't all wars been caused by those forcing their opinions on others--we, being the chief offenders, having been do-gooders bringing ourselves down by our violent ways and means of instilling our way of life?

    Reading George Soros' book will not make you a rich investor, but, once understood, it will make you an active and wiser citizen, at which time you will no longer be part of the problem but part of the solution. Benjamin Franklin, when asked what had been achieved, a republic or a monarchy, answered, "A republic, if we can keep it."

    One more thing; Soros credits Karl Popper for giving him the idea of an open society, proving that our advancement has come from stepping on the shoulders of those who came before us. I have just ordered his book "Open Society and It's Enemies" for my own edification.

    Joan Morrone
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  • Reviewed in the United States on March 30, 2023
    Rambling style of writing
  • Reviewed in the United States on July 5, 2021
    I understood that Soros had come up with a new suggested philosophy of how the world should work and I wanted to know more about it. His proposed Open Society has to me an element of wishing the world would operate in a way different than it has been tried in the past. If everyone could be as nice as he thinks it would be good. Unfortunately I don't think the world is quite ready for such a world as he proposes.

    There are other parts to the book where he talks about things like currency trading they were very educational as well as interesting.

    JM
  • Reviewed in the United States on March 18, 2018
    very eye opening. if you want to know what the left liberals are up to this is it. a must read to wake you up to reality
    7 people found this helpful
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  • Reviewed in the United States on May 10, 2023
    Book was received in perfect shape, no dents or folds.
  • Reviewed in the United States on February 11, 2016
    This is Mr. Evil's plan to eliminate all national borders. By infiltrating legitimate countries with massive numbers of refugees, and illegal immigrants Soros sees the elimination of those country's individual Governments and the establishment of a World Government (with him as king of the world I suppose.) Disregarding the massive human suffering and destruction such a plan causes, he couches his socio and economic purposes in a variety of rationalizations while justifying them as being for the good of the world. I guess he means the end justifies the means. This guy would be great as a megalomaniacal villain in a James Bond movie.
    The reformation of global capitalism he refers to would result in two classes of people in the world, the elites and the herd ... guess which group he would be in.
    13 people found this helpful
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  • Reviewed in the United States on September 3, 2001
    Different than CEOs that have made billions of dollars from a single company common stock holding and options. Soros had to digest massive amounts of information every day and make hundreds of correct decisions to accumulate his wealth. Implicitly, his knowledge of the world had to be superb and more accurate than most other people. That is the reason I chose to read this book carefully.

    Soros powerfully develops why the fallibility of even the brightest individuals and the best of government institutions is profoundly persistent as to be nearly certain over time in the social sciences and economics. Fallibility is the most powerful foundation argument for pursuing the open society worldwide. Soros states an open society needs free markets, rule of law, democratic rule and enough cultural freedom to be constantly improving or remaking itself. Choices need to made at the lowest smallest possible level of governments and companies. Individual freedoms need to be accentuated. Much like eastern philosophy we can't expect grand goals to be realized as we move forward as a society or individual. Our course needs to be constantly changing toward the improved understanding of goals as we approach them.
    Soros says that: Even though, the invisible hand of the free markets consistently comes up with better answers for the good of everybody collectively than any government, these free markets should not be worshipped without qualification. Doubts should exist. Soros says: We have yet to see a nation that has all the freedoms and individual independence that is warranted by the experience of history. Yet, there is a pressing need for compassion for those that are failing within both the free and oppressed nations.
    He is concerned about the moral fiber of a free market system as people need to belong to a community and/or society that stands for more than free markets. He makes the case for international institutions to work on global problems of oppressive governments and improving economic relationships throughout all nations. He is very critical of the current institutional skills embodied in international efforts to manage the economic and the political system.
    The reviewer that thinks Soros does not address how his trading skills developed was dreaming of simple answers instead of Soros insights. Soros discussion of reflexivity is very helpful. Soros concedes that basic commodities markets may realize the magic of the equilibrium market price created by the invisible hand that economists worship. However, when it comes to financial markets where he has incredible knowledge to impart, he shows over and over again how financial markets get out of balance and can persist out of balance for some time. The public does not want to hear that stock market is a violent place. There is nothing the government or investors can do about severe market swings. Investors should stop being cheer leaders for their favorite stocks. Take Soros advice and revel in the discovery of your errors and potential wrong headed directions. Logic helps but rigidity will kill you.
    Soros has many powerful insights about the disequilibrium of financial markets and its impact on company profits and the economy in total. While the book is much more than his thoughts on the stock market, a serious professional money managers will find his own fears vividly described. All professional managers concerns about how the markets fail to work smoothly are spelled out in lucid detail. Soros helps you understand how to deal with the times that other professional get it very wrong but are driving the markets very far in the wrong direction. He shows how to enthusiastically develop ways to sense when you are going to lose even though you have a good understanding of reality. If you have not manage money professionally, you may well miss many of his profound points. Note the incredible success of Soros and adjust to the fact that he speaks with greater authority that any other writer on financial markets in these times. How you deal with his broader applications beyond the financial markets is what makes the book so fascinating and provocative.
    Soros is not attacking capitalism. The notion that Soros is forecasting the demise of the global economic system is very silly. Soros evaluates the future very cautiously.. he has concerns not bold forecasts. Soros shows over and over again how difficult it is to predict the future and markets. Soros shows in vivid detail why you should very distrustful of people that make bold predictions as the reviewer reckless assigns to Soros. Read the book. That reviewer deserve your most unbridled rebuke. How could the reviewer get the impression that Soros was saying: If only Marx and the Former Soviet Union leaders could have only explained communism better it might have worked. Soros negative views on communism could not be more lucid. He is screaming at maximum volume for more liberties and freedom of choice and particularly freedom of thought. He would find the typical American college a stifling place to try to learn new insights.
    Two world Wars book ending a great depression and a cold war of massive proportions have left most people with an aggressive bias that governments ought to do something--- anything. I am left with the feeling that Soros does not understand that these great ills were created by governments that then argued that political and economic freedoms were not working and therefore let us the government do something for you. If you share a belief in big government on a global scale you will find encouragement in this book. However, Soros has the dream that global government agencies can do big things without infringing on his cherished freedoms and liberties. Freedoms that are his first love and not an afterthought.
    5 people found this helpful
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  • Reviewed in the United States on February 27, 2022
    His implementing naturalistic thinking to create absolutes in the historical situational etics of market fluctuations

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  • Cliente de Amazon
    4.0 out of 5 stars A must reas
    Reviewed in Mexico on October 16, 2019
    Soros da su adaptación de las teorías de Popper y como le influye en su modo de actuar. En el habla de su teoría de la reflexividad y hace una apología de sus patrones de actuación tan criticados últimamente por mucha gente. Si pensáis en el lado conspiracionista de soros antes tenéis que leer este libro
  • robertajani@hotmail.com
    5.0 out of 5 stars Five Stars
    Reviewed in the United Kingdom on March 1, 2017
    The book is in perfect condition.