Open Society Reforming Global Capitalism Reconsidered » (1st Edition)

The renowned financier reconsiders the state of the world economy, and the arguments he made in his New York Times and Wall Street Journal bestseller The Crisis of Global Capitalism

Lauded by the New York Times as "brilliant and persuasive," and published in more than thirty-five foreign editions, George Soros's The Crisis of Global Capitalism became an instant classic. A must read for anyone concerned with the complex market forces that rule our global economy and that have thrust us into a state of financial flux and international economic insecurity. Now Soros takes a whole new look at the arguments he made in that book, incorporating the very latest in global economic and political developments. He shows how the recovery following the economic meltdown of 1998 may have been a false dawn, leaving us in a much more precarious position than we realize. He also explores surprising connections between events like the war in Kosovo and the economic wealth of nations. And he offers new insights into the fates of Russia, Asia, Europe and the United States. Demonstrating that our still unquestioning faith in market forces blinds us to crucial economic instabilities, Open Society provides an inspiring vision of how to fix the flaws in the system - suggestions that have already influenced leaders at the IMF, the World Bank, and in many national governments.

About the author: George Soros heads Soros Fund Management and is the founder of a global network of foundations dedicated to supporting open societies. Known throughout the world for his financial acumen, Soros is the author of several previous best-selling books including The Alchemy of Finance and Soros on Soros.

Library Journal

Billionaire investor and philanthropist Soros's most recent book reflects an almost anticapitalist bias. While much of his earlier work affirmed the importance of free markets and unfettered capitalism in a global economy, he argues here that the future depends on "open societies" that are more amenable to "change and improvement." Sounding a bit idealistic, if not na ve, the author makes the case for a new paradigm, which, arguably, has been responsible for opening up closed (read: Communist) societies in Eastern Europe. While Soros acknowledges today's global economy is already a form of an open society, "it gives too much credence to the profit motive and competition and fails to protect common interests through cooperative decision-making." He points to the recent Asian economic crisis and the Russian currency meltdown as examples of international financial mechanisms that are not working, yet given his own financial stake, his call for intervention seems rather suspect. At times, the book reads like a philosophic tract as Soros searches for answers. Unfortunately, few are found here. A more insightful study of globalization is John Micklethwait and Adrian Wooldridge's Future Perfect (Times Bks., 2000). Not recommended.--Richard Drezen, "Washington Post" News Research, New York Copyright 2000 Cahners Business Information.