What Soros and Rogoff are saying: Bretton Woods 2011

[Geee]

UK Telegraph:

This weekend 400 economists and central bankers have assembled in Bretton Woods, New Hampshire, to explore the way in which economic thinking needs to respond to the financial crisis, at a conference organised by the Geroge Soros-funded Institute of New Economic Thinking. Here is what some of the key figures have to say:


George Soros, financier and philanthropist:

The billionaire says that the economics profession needs to pay far more attention to the fact that humans are not the rational agents that much modern economic theory assumes they are.

It also needs to be recognised, he says, that mathematical models that have become dominant in economics over the last 30 years cannot model the uncertainty that is part of human life.

[Sanguine]

The billionaire says that the economics profession needs to pay far more attention to the fact that humans are not the rational agents that much modern economic theory assumes they are.

 

Yes, this is a core Soros belief - people need to be managed, organized, and governed by their betters. Like him.