In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.

Tucson Citizen
“Brilliant…examines a complex problem with both insight and philosophical depth….A much-needed contribution that should help many of us better understand the great credit crisis and what it means, not just for the United States but the entire world.”

BBC Business editor Robert Peston
“Totally compelling”

The London Times “They're wrong about oil, by George: In short, the standard economic assumption that supply and demand drive prices is only a starting point for understanding financial markets. In boom-bust cycles, the textbook theory is not just slightly inaccurate but totally wrong. This is the main argument made by George Soros in his fascinating book on the credit crunch, The New Paradigm for Financial Markets, launched at an LSE lecture last night.”

Reuters
“Soros says market rebound a bear-market rally: Billionaire hedge-fund manager George Soros said at LSE on Wednesday that the current rebound in stock markets is only a bear-market rally, because monetary authorities are unlikely to be able to handle the credit crisis.”

George Soros is chairman of Soros Fund Management and is the founder of a global network of foundations dedicated to supporting open societies. He is the author of several best-selling books including The Bubble of American Supremacy, Underwriting Democracy, and The Age of Fallibility. He was born in Budapest and lives in New York City.

Imprint: PublicAffairs
Distributor: Perseus Books Group
Publication Date: 05-05-2008
Pages: 208
Measurements: 7.63in X 5.19in X 10.40lb