The people currently in charge have forgotten the first principle of an open society, namely that we may be wrong and that there has to be free discu… - George Soros

Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather than the process that leads up to it. But the concept is also very deceptive. It has the aura of something empirical: since the adjustment process is supposed to lead to an equilibrium, an equilibrium position seems somehow implicit in our observations. That is not true. Equilibrium itself has rarely been observed in real life — market prices have a notorious habit of fluctuating.

"How is it that you stay ahead of the game?
As I have said already, I look for the flaw in every investment thesis. When I find it, I am reassured. As long as I can see only the positive side I worry. Again, don't misunderstand me. I don't reject an investment thesis just because I can't see the negative side; I just remain leery. On the other hand, I am particularly keen on investment theses that the market is reluctant to accept. These are usually the strongest. Remember the saying, "The market climbs on a wall of worry.

The Palestine problem does not have a purely military solution. Military superiority is necessary for Israel's national security, but it is not sufficient. The solution has to be political, as President Clinton recognized.