New Deal 2.0 Tue 2009-11-03 20:07 EST

Roosevelt Institute Director and Senior Fellow Rob Johnson will lead Soros' $50 Million Effort

Rob Johnson, Director of the Economic Policy Initiative of the Roosevelt Institute, has been pegged to lead financier George Soros' $50 million effort to create an ``Institute for New Economic Thinking'', which will fund research, convene symposiums, and establish a journal -- all in the name of promoting free market skeptics and creating a new economic paradigm. To this end Soros is gathering market-skeptics this week, including Roosevelt Institute Braintruster and Nobel Prize-winner Joseph Stiglitz, George Akerlof, Michael Spence, and Sir James Mirrlees to start the conversation. ``Economics has failed not only to predict and explain what happened but has also failed to protect society,'' said Johnson in an article in Newsweek. ``That's what the crisis revealed. The paradigm has failed. There is no guidance.''

0; 50; effort; lead Soros; new dealing 2; Roosevelt Institute Director; Senior Fellow Rob Johnson.

naked capitalism Thu 2009-10-15 17:12 EDT

Hyperinflation, national bankruptcy, dollar crash and other exaggerations

Edward Harrison

Marc Faber, Martin Wolf... George Soros' comments on dollar weakness: ``The dollar is a very weak currency except all the others.'' Right now, there is no alternative to the dollar. Some people are fleeing U.S. assets if they can. But the alternatives are limited and this limits how far the dollar will fall. And this is unfortunate because the monetary system now in place is in need of change. Without it, we are likely to see nationalistic policy responses to economic weakness, which will induce conflict.

dollar crash; exaggerated; Hyperinflation; naked capitalism; nationalized bankruptcy.

Tue 2008-10-07 00:00 EDT

He Foresaw the End of an Era - The New York Review of Books

He Foresaw the End of an Era, by John Cassidy - The New York Review of Books; review of George Soros' The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means

books; ending; era; foresaw; New York Review.

Tue 2008-09-23 00:00 EDT

The Perilous Price of Oil - The New York Review of Books

The Perilous Price of Oil, by George Soros - The New York Review of Books; ``prices in financial markets do not necessarily tend toward equilibrium...There is a two-way, reflexive interplay between biased market perceptions and the fundamentals, and that interplay can carry markets far from equilibrium. Every sequence of boom and bust, or bubble, begins with some fundamental change, such as the spread of the Internet, and is followed by a misinterpretation of the new trend in prices that results from the change. Initially that misinterpretation reinforces both the trend and the misinterpretation itself; but eventually the gap between reality and the market's interpretation of reality becomes too wide to be sustainable.''

books; New York Review; Oil; Perilous Price.