A year back George Soros gave a speech on the Euro Crisis, Could be one of the best speech have heard in the financial domain. After 1 year imagesEuro remains Status quo with some positive signs. Here is the complete speech

He Started with the Crash of 2008 that has been a widespread recognition, both among economists and the general public, that economic theory has failed. But there is no consensus on the causes and the extent of that failure.

He differentiate economics that is a social science and there is a fundamental difference between the natural and social sciences.

Putting the radically approachinspired by Karl Popper who taught him that people’s interpretation of reality never quite corresponds to reality itself. This led him to study the relationship between the two. There is a two-way connection between the participants’ thinking and the situations in which they participate. On the one hand people seek to understand the situation; that is the cognitive function. On the other, they seek to make an impact on the situation; he termed that the causative or manipulative function.  Continue reading

Advertisements