Ateneo Professor on Entrepreneurship
Philippines | July 1, 2013
From Money News by Dan Weil | June 27, 2013
Economic theories have to be rethought according to George Soros, the legendary currency fund manager. He and former Fed Chair Paul Volckler funded the INET (Institute for New Economic Thinking) in 2009 right after the Lehman Brothers's debacle.
The efficient and the rational thinking system (ie that the market becomes efficient in terms of rational cost benefit analysis) has to debunked. Soros say that is now much finished but making new economic theories much like the Newtonian physics has to be done.
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