Besides his career as a trader, and his philanthropist endeavors, there are several George Soros books that are worth reading. We all know him as a financier, a philanthropist, but writing has always been one of his passions. George Soros's books are a mix between finance, geopolitics, and economics, and there are some masterpieces in between.
Even if you are not that interested in his life, or his political views, George Soros's books are definitely unique. Since they bring innovative concepts and views to finance, geopolitics and economics. Here are the 10 best George Soros books:
The Alchemy of Finance
Published in 1987, The Alchemy of Finance explains the philosophy of finance. George Soros shares pragmatic examples of his experience and knowledge all throughout his investment career. He shares his techniques in managing his investments.
At a young age, he had already shown interest in Economics and philosophy. As a student, his biggest influence was Karl Popper's impression of the scientific method. He understood the difference between economics and natural phenomena.
Social science involves thinking participants while natural phenomena do not. The way participants think lacks objectivity. Economic theory assumes rational behavior. When participants choose the best available alternatives, the difference between the perceived alternatives and facts is disregarded. The result does not parallel reality. People act on the basis of imperfect understanding and there is no sense of balance.
In his theory of reflexivity, actions result from the perception that decisions are not based on reality, but instead the perception of reality. He explains how occurrences influence a person’s view, and vice versa. The Alchemy of Finance is certainly among the most iconic George Soros books, and also among the best finance books ever.
Soros on Soros: Staying Ahead of the Curve
This book pertains to Soros’ own life. He writes about his hardships, life experiences, and how he turned failure into success. Some could say that this is George Soros’ attempt at a self-improvement book. Throughout the book, he provides advice and teaches us that in every situation, there is an opportunity waiting to be seized.
Soros himself was a Holocaust survivor. He had come from nothing, but with nothing, he sowed many and had much to reap later on in his life. From a Holocaust survivor, he became a philosophy student, eager to learn more about the ways of life, then eventually he became a tobacco businessman. However, his business grew to be unsuccessful.
Soros came to reap success, not throw away all of his hard work. What did he survive the Holocaust for if he were not to live on and lead his life the way he wanted to? From an unsuccessful businessman, he turned his failures into successes and went on to become one of the most domineering and successful traders in the world.
George Soros on dealing with hardships
Even Soros, a superstar trader, and finance expert has had his own fair share of losses. More than once, these mistakes almost destroyed him and his entire career, but he remains the victor with the help of the people who have led him to his success. His $1 billion British pound trade is a great example.
Soros explains how he earned his fortune and learned from his mistakes. He tells the story of how he founded the incredibly triumphant Soros Fund Management and its flagship, Quantum Fund worth $12 billion.
In this book, Soros writes about his personal and professional experiences in his prominent journey to success. This is a full and detailed documentation of his life that is set to inspire others to pursue their goals and reap success for generations to come. This is not only of the best autobiographies, but one of the best George Soros books to really understand his life, and how it shaped its views of the world. There are also several George Soros quotes that can help you understand the mind behind Soros.
George Soros on Globalization
Globalization is a big step for every company. It is a road to success and your chance to build your brand. With globalization, you are expanding to further heights and opening doors of opportunity, but is it necessarily a good thing? In this book, Soros tackles the issues associated with globalization and how industries around the world are plagued with corruption and scandals.
Soros explains how we should be listening to protesters and accepting their criticisms. He writes that these protesters are pointing out our mistakes for us and through this, we can find the solutions to the problems with globalization. While globalization is an amazing opportunity, we could be making people’s lives harder and causing them to lose their jobs, which would lead to even worse problems in the future.
In this book, Soros points out our everyday problems with globalization. What we could do to avoid it and how we should approach these problems now. A wonderfully eye-opening book on important problems that go unnoticed by the day.
The Crash of 2008 and What it Means: The New Paradigm for Financial Markets
The intensity of the crisis was something that has not been seen since the Great Depression which occurred in the 1930s. Soros, being proficient in the field of financial markets, examines the roots of the crisis and the effects it can bring in the future. He studies the high and low levels of the economic activities of individuals and institutions throughout the decades.
George Soros analyzes the data with the goal of providing an effective approach to the conventional economic theories. He discusses the theoretical approach and application based on the context of both philosophy and psychology from his theory of reflexivity.
He also discusses the bubble theory, to analyze the rapid rise in the price of commodities and market prices. Soros recommends policies for intervention in moderation, implying the need for authorities to be vigilant and take control of the expansionary phase. Monetary policies must be put in place in order to avoid asset bubbles. Soros’ practical insight gives his readers a better understanding of the crisis and the implications it brings to the future. Due to its economic importance, this is among the best George Soros books explaining the financial crisis, and its consequences.
In Defence of Open Society: The Legendary Philanthropist Tackles the Dangers We Must Face for the Survival of Civilisation
As a philanthropist, Soros desired to bring good and equality to the world. With this motive, he founded the Open Society Foundation. To help those suffering and under persecution. In this book, he writes about how his foundation was able to promote democracy around the world and provide scholarships to underprivileged South African children.
Over the years, he has donated more than $14 billion for democracy and human rights, but now he is prioritizing right-wing attacks, the importance of open society, progressivism, and antisemitism. Soros himself is a victim of antisemitism and is being prejudiced for his Jewish background.
It is not only him who is a victim of racism. People around the world are suffering from inequality, the US is a target for right-wing attacks, terrorizing its citizens and the world is lacking in progressivism. Now more than ever, the world needs an open society.
In this book, Soros writes about his thoughts on open society, why the world needs it, and what we should be doing to build one. As a philanthropist, he applies philosophies on life and how we should be living to create an ideal, peaceful and equal society.
The Soros Lectures
Soros was the founder of the Central European University in Budapest, Hungary. The lectures investigate the financial crisis of 2008. The theoretical structures in the field of economics and finance.
The university teaches humanities and social sciences, as he strongly believes that it is crucial in developing intellectual perspectives to better understand the world with the complexity of society and the financial market. He wants to end the confusion between market values and social values. He urges nations to move towards a more open society hoping that his lectures will contribute awareness. Although this is more of a collection of lectures than one of George Soros's books, it is worth reading.
The Crisis of Global Capitalism
The financial crisis the world is facing is unstable, which led to inflation and poor economic growth. Economists and politicians are unable to provide balance in the global economy. The markets all over the world are falling deeper into recession. Soros, being the world-renowned analyst, investigates the crisis and economic theory and reveals how theoretical assumptions work with human behavior.
He explains how the market leads to instabilities that cause the crisis. He further explains the two fundamental defects in contemporary capitalism. The defects and instability of the financial market. He believes that the equilibrium theory is a falsely assumed theory which market fundamentalists use. He again points out that the theory of reflexivity is a better approach.
The Age of Fallibility
Soros developed concepts and set out his beliefs. His ultimate goal is to give the world a better understanding of how the economy can be better. This book talks about his philosophical views. He shares that the Age of Reason must be replaced with the Age of Fallibility.
An open society is at risk by anarchies, the fall of a closed society can result in disintegration. America’s influence under the Bush administration brought consequences on the world’s development. America disregards critics. Contrary to his belief, the adoration of success and loss of truth weakens ethical values.
Open Society Reforming Global Capitalism
This book is a better version of “Crisis of Global Capitalism. The logic behind the instability of the economy has something to do with human behavior and how the political arrangements are contradictory. The open society fosters individual countries in creating a foundation for a global open society. In this book, Soros shows an unorthodox view of the world that made it possible for him to become rich and his network of open society foundations.
The Tragedy of the European Union: Disintegration or Revival?
The euro crisis may completely eliminate the European Union. With increasing rates of unemployment and xenophobia on the rise, the member states of the European Union may soon disintegrate.
The European Union has been at peace for almost a century, but this peace is at risk. Great Britain plans on leaving the union, a conflict of interest arises regarding the future of Europe and its declining economy. With unemployment rates rising rapidly, everyone is turning to Germany for help but it is reluctant to give it.
In this book, Soros shares his thoughts on the conflict of the European Union and how we could contribute to turning it back into its former glory. He emphasizes that if the European Union were to fall, the allied countries would once again become rivals. Thus, the world altogether would have to face economic and political consequences in the society if these countries were to have conflict.
Soros writes that this conflict is caused by ignorant mistakes. That could have been avoided such as political, financial, and economic issues that go unsolved and too much faith in the European market. As a philanthropist, a supporter of open society, and a man of European descent, Soros has faith in the future of Europe and writes of ways we could bring peace back to the Union.
The Bubble of American Supremacy
Soros is passionate about his advocacy for an open society and a more decent political view. He aims for a critical analysis of the Bush administration policy. Soros firmly believes that bubble psychology afflicted the markets in the 1990s. The assertion of American power in the world mimics a financial bubble.
The unfortunate event that occurred on September 11, 2001, changed history. Bush declared war on terrorism and implemented a foreign policy whose fundamental principles introduced tragedy. Power over law prevailed in the relationship between nations. America was superior and had the power to enforce its views and values. However, the Bush administration failed to effectively apply its supremacy. Thus, military action should be taken in a constructive and affirmative manner.
The world’s inability to match America’s military power has become a problem for the United Nations as it risks an instability of power in the world, which would reap benefits for America. But dire consequences for the rest of the world. Soros displays his opinion with evidence to support it. According to Soros, Bush should not be reelected and his campaigns should not be supported.
Soros emphasizes that we should not be satisfied with the world’s current order as it has still not yet completely eliminated its negative traits. Underdeveloped countries are still struggling financially and global wealth inequality is a persisting issue. Therefore, Soros provides advice on how to manage this American supremacy bubble and build an open society for everyone. This is perhaps one of the most significant George Soros books on politics.
Financial Turmoil in Europe and the United States: Essays
Since the financial crisis of 2008, the economic situation of the United States and Europe has never been the same. In this book, Soros compiles all of his writings about the financial situation of the world and how we should be managing it.
Most of his writings stem from before, during, and after the great financial crisis. Focusing on the measures that we should be taking to ensure that the world’s economy recovers from it and that it never happens again. Europe’s financial situation has also taken a toll and its management is at risk. Soros shares his thoughts on what is the best way to fix this.
This book helps you understand the world’s actual financial situation, our options, what we should do, and the problem with our economy, all in an amazingly clarified and sophisticated collection of Soros’ writings.
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