FREE ESSAY ON GEORGE SORORS

GEORGE SORORS

Many economists agree that there is a significant imbalance between the growth of global
economy and the development of a free society. One of these economists who agrees with
this point is George Soros. Soros bases his dilemma mainly on the Thai crisis that
hastened the currency meltdown in Asia. Also the Russian collapse inflicted temporary
chaos on the Western financial system, and most recently, the volatility of the world's
stock markets has caused most investors much tremor. George Soros argues that in the last
20 years, the emergence of market fundamentalism, that is the idea that markets need only
be regulated by the forces of profit and competition, has distorted the role of capital
to the extent that it is today a greater threat to open society than any totalitarian.
Soros argues that capitalism, when completely unregulated tends to swerve out of control,
like a car taking a curve too fast. Decision by markets are amoral but not immoral. Soros
believes that capitalism can be effectively mediated by and open society. He does not
define precisely what this means, but he suggests that society needs to be able to
experiment with cultural value systems. Standards of right and wrong may change with
technology and with social process; however, the involvement of the state in resolving
conflicts, and in a democratic society, he sees as inevitable. 
According to Soros' opinion too, to be able to stabilize and regulate a truly global
economy, the world will need a global system of political decision-making. In short, a
global society is needed to support the global economy. A global society does not mean a
global state. What makes Soros' claims interesting is that the greatest opposition to
this idea is coming from the United States. Nevertheless, there has never been a time
when a strong lead from the United States and other like minded countries could achieve
such powerful and benign results. With the right sense of leadership and with clarity of
purpose, the U.S. and it's allies could help to stabilize the global economic system and
to extend the uphold universal human values.