Appendix to The Bubble of American Supremacy

I recommend the Appendix of George Soros's The Bubble of American Supremacy. It lays out Soros's "Conceptual Framework" including his ideas on Reflexivity, Radical Fallibility, Open Society, the Human Uncertainty Principle and The Alchemy of Finance






After reading this portion of the book I realized that the error of the various actors leading up to the financial crisis wasn't that they didn't see it coming, it was that they failed to realize that their views were subject to error and therefore, might not have been the right way to proceed. It was an example of various groups being too sure about their various world views - whether it be real estate prices always rising, the panacea of securitization or the market fundamentalism that left derivatives, etc., unregulated.

The Bubble of American Supremacy
George Soros
Public Affairs, New York 2004
See pages 191-203