George Soros Quotes on Capitalism: 7 Memorable Statements by Billionaire

George Soros' first-hand experience with communism as a citizen in Hungary led him to shun capitalism and avidly support democracy and "open society."

Soros founded the Open Society Foundation, which works to "build vibrant and tolerant democracies whose governments are accountable to their citizens."

Below are seven quotes from Soros that shed light on his vantage of capitalism.

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1. "Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes."
– "Soros on Soros: Staying Ahead of the Curve," published 1995

2. "The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium."
– NPQ, October 2008. There has been a widespread belief that unregulated markets would naturally advance toward equilibrium. Soros, who made his fortune through the financial markets, challenges this opinion, believing that markets are inherently destabilizing.

3. "Throughout the 19th century, when there was a laissez-faire mentality and insufficient regulation, you had one crisis after another. Each crisis brought about some reform. That is how central banking developed."
– The Huffington Post, November 2008

4. "Although I have made a fortune in the financial markets, I now fear that the untrammeled intensification of laissez-faire capitalism and the spread of market values into all areas of life is endangering our open and democratic society. The main enemy of the open society, I believe, is no longer the communist but the capitalist threat."
– The Atlantic, February 1997

5. “I was a human being before I became a businessman.”
– State of the World Forum, September 2000

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6. "A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital."
– The Atlantic, January 1998

7. "Money values do not simply mirror the state of affairs in the real world; valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion; that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit."
– "The Alchemy of Finance: Reading the Mind of the Market," published 1987

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