Thursday, July 16, 2009

A two-way, reflexive connection

Books of Account
The New Paradigm for Financial Markets
George Soros
( http://www.landmarkonthenet.com/)

Market prices vs fundamentals

The belief that markets tend towards equilibrium has given rise to policies which seek to give financial markets a free rein, observes George Soros in The New Paradigm for Financial Markets: The credit crisis of 2008 and what it means. He calls such policies ‘market fundamentalism’ — something that is ‘no better than Marxist dogma.’

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