Soros, ignorant in economic theory?

Discussion in 'Economics' started by Daal, Dec 16, 2006.

  1. Daal


    In Alchemy of Finance pg 122 he says "a strong dollar leads to a high trade deficit which weakens the economy". Was he mad when he wrote this?
  2. I don't know about economy, but one thing is sure : he has no clue about physics. I stopped reading the book as of page 18...
  3. So he wrote a book that you all disagree with but paid money for it?.... he's a genius
  4. Because of course you are so clever that you know a book content BEFORE reading it...
  5. Yeah I really should be accusing the gazillionaire of being clueless like you two geniuses are doing
  6. Daal


    You forget that the people whom he hired and made him rich disagree with him on this and a lot of other issues
  7. Really... well perhaps he'll find some comfort in his 7 billion dollars for being so "wrong"
  8. like science trader I got rid of it after looking into around 20 pages.. the book is almost a scam.. I instantly realised he would not give an inch of his true philosophy in the book (not surprising) and just talk shit and make it sound nice..

    anyways, out of interest, what is actually wrong with the statement ""a strong dollar leads to a high trade deficit which weakens the economy"?

    as far as economic theory goes, it seems reasnable. when $ is strong, imports go up, exports go down, hence widening of the deficit. recently dollar has gotten very weak and only in the past weeks the deficit has started to decline sharpley.

    what is in fact "ignorant" is for those who didn't take econ101 to argue on the topic. it takes great econ students (e.g soros @ LSE) to truly appreciate how complex the economy is and how many variables and measures can possibly influence each other, and it would take a genius to perfectly get it right. as far as this goes, the statement is perfectly reasnable - ceteris paribus.
  9. Daal


    If I gave you a check for one million dollars and prohibted you from working
    and guaranteed that you would get your job back when you run out of money would that make you poor?
  10. I was going to take Alchemy of Finance as reading material on my next vacation.

    Are you guys implying the book is a waste of time ??
    #10     Dec 16, 2006