If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
Interpretation
Universal principles like freedom and democracy need protection beyond market forces.
George Soros emphasizes that essential values such as freedom, democracy, and the rule of law are too important to be left to the whims of the marketplace. He advocates for the creation of institutions specifically designed to protect and uphold these principles, ensuring they are preserved for future generations.
In practice
During a political debate to emphasize the importance of safeguarding democracy.
The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.
We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting caught in a quagmire.
My foundations support people in the country who care about an open society. It's their work that I'm supporting. So it's not me doing it. But I can empower them. I can support them, and I can help them.
The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.
Money is human happiness in the abstract.
And lips say “God be pitiful,” Who ne'er said “God be praised.”
He is spent. His mind is mercury again, its brief surge of humanity melting into an oily residue on its surface, and he no longer understands the feelings he felt in that strange moment on the overpass. But he did feel them. They did happen. They rest on the murky seabed of his mind, buried under sand and silt and miles of grey waves. Patient seeds waiting for light.
Christ managed to boil down an awful lot of commandments to a few very simple rules for living. It's when you go backwards through the 'begats' and the Garden of Eden, and you start thinking, 'Hang on, that's a big punishment for eating one lousy apple... There's a human-rights issue.'
I believe in mysticism, with an interior goal, and you are your own temple and your own priest. I dont believe anymore in religions, because you see today there are religious wars, prejudice, false morals, and the woman is despised. Religion is too old now; its from another century, its not for today.
Even when repressed, inequality grows; only the man who is below the average in economic ability desires equality; those who are conscious of superior ability desire freedom, and in the end superior ability has its way.
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