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Remarks at the Festival of Economics, Trento Italy - George Soros

 
PatrikC325
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06/03/2012 10:50 AM

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Remarks at the Festival of Economics, Trento Italy - George Soros
It goes back to the foundations of economic theory. Economics tried to model itself on Newtonian physics. It sought to establish universally and timelessly valid laws governing reality. But economics is a social science and there is a fundamental difference between the natural and social sciences. Social phenomena have thinking participants who base their decisions on imperfect knowledge. That is what economic theory has tried to ignore.

[link to www.georgesoros.com]

Last Edited by PatrikC325 on 06/03/2012 10:50 AM

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