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I start from the position that every human endeavor is flawed: if we were to discard everything that is flawed there would be nothing left. We must t… - George Soros
" "I start from the position that every human endeavor is flawed: if we were to discard everything that is flawed there would be nothing left. We must therefore make the most of what we have; the alternative is to embrace death. The choice is a real one, because death can be embraced in a number of ways; the pursuit of perfection and eternity in all its manifestations is equivalent to choosing the idea of death over the idea of life. If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one's conceptions and what one does about them. Life can be seen as a fertile fallacy.
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About George Soros
George Soros, born György Schwartz on 12 August 1930) is a Hungarian-born American businessman, philanthropist, and political activist. He is the chairman of Soros Fund Management and the Open Society Foundations.
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György Soros
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György Schwartz
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Additional quotes by George Soros
So the euro is here to stay, and the arrangements that evolved in response to the crisis have become established as the new order governing the eurozone. This confirms my worst fears. It’s the nightmare I’ve been talking about. I’m hopeful that the Russian invasion of Crimea may serve as a wake-up call. Germany is the only country in a position to change the prevailing order.
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Let's deal first with your general theory of reflexivity.
Essentially, it has to do with the role of the thinking participant, and the relationship between his thinking and the events in which he participates. I believe that a thinking participant is in a very difficult position, because he is trying to understand a situation in which he is one of the actors. Traditionally, we think of understanding as essentially a passive role, and participating is an active role. In truth, the two roles interfere with each other, which makes it impossible for the participant to base any decisions on pure or perfect knowledge.
Classical economic theory assumes that market participants act on the basis of perfect knowledge. That assumption is false. The participants' perceptions influence the market in which they participate, but the market action also influences the participants' perceptions. They cannot obtain perfect knowledge of the market because their thinking is always affecting the market and the market is affecting their thinking. This makes analysis of market behavior much harder than it would be if the assumption of perfect knowledge were valid.
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