Soros Spending $50M to Battle Free-Market Capitalism
"Large swaths of economics are going to have to be rethought on the basis of what's happened." So said Larry Summers, President Obama's chief economic adviser, in an interview in the weeks after the markets crashed a year ago. Yet to a remarkable degree, economic thinking hasn't changed very much at all. (Click here to follow Michael Hirsh).
Now financier George Soros is announcing a $50 million effort to speed things along. This week Soros is gathering some of the leading practitioners of the market-skeptic school, who were marginalized during the era of "free-market fundamentalism," among them Nobelists Joseph Stiglitz, George Akerlof, Michael Spence, and Sir James Mirrlees. He's also creating an "Institute for New Economic Thinking" to make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation. Soros hopes matching funds will bring the total endowment up to $200 million. "Economics has failed not only to predict and explain what happened but has also failed to protect society," says Robert Johnson, a former managing director at Soros Fund Management, who will direct the new institute. "That's what the crisis revealed. The paradigm has failed. There is no guidance."
Featured Talent
.jpg "Michael Goodwin")
On FOX News Channel
Follow Fox Nation
FOX Forum Posts
- Republicans Beware, It's a Trap
- A Bittersweet Legacy Comes to an End
- John Murtha: Portrait of a Complex Man
- Remembering John Murtha
- Can New Agency Deliver Reliable Data On Climate Change?
- Will Obama, Democrats Seriously Consider Republican Ideas on Health Care?
- Saints -- And Their City -- Win Big
- Four Reasons Why Obama's On a Roll
- Obama Must Tell Holder to Get With It or Get Out
- MICHAEL GOODWIN: Piercing Through the Fog of War
Most Talked About
- Exclusive: Palin on Running in 2012 - 'I Would Be Willing'
- TIME: Tea Party 'Not Big Movement,' Palin Fans 'Un-American'
- Palin Mocks 'Hand-Gate'
- Dog & Pony? Obama Announces Health Care C-SPAN Meeting
- Mitchell Mocks Palin's Hand Notes
- Sen. Kaufman: Palin Supporters 'Don't Follow What's Really Happening' In U.S.
- Obama Approval Sinks to 44%
- Meghan McCain Rails Against Tea Parties
- What Was So Bad About the Tebow Ad?
- Another Obama Nominee Links Christians With Violence
Real American Stories
FOX Fan
Capn Jack
If you really want to stop MoveOn and its leftist anti-Americans maybe you should consider cancelling your Progressive Insurance. Here’s why:
MoveOn has received financial support from numerous leftist organizations, including the Tides Foundation, the Shefa Fund, the Stern Family Fund, the Steven and Michelle Kirsch Foundation, the Compton Foundation, and George Soros's Open Society Institute. Following a September 17, 2003 meeting between Soros and Boyd in New York, Soros and his associates gave nearly $6.2 million to MoveOn over a period of six months. The contributions included $2.5 million from George Soros personally; $2.5 million from Peter B. Lewis of Progressive Insurance; $971,427 from Stephen Bing of Shangri-La Entertainment; $100,000 from Benson & Hedges tobacco heir Lewis Cullman; and $101,000 from Soros' 34-year-old son Jonathan Soros, an attorney and financier recently promoted to deputy manager of Soros Fund Management LLC.
Progressive Insurance also gives to the following groups:
• Moveon.org
• Young Democrats of America
• The Marijuana Policy Project ("MPP believes that the greatest harm associated with marijuana is prison")
• Gay & Lesbian Victory Fund
• Sierra Club
• PunkVoter Inc.
• The A.C.L.U.
arfdah
Who let this guy into America?
KC Mob Member
What are you Americans going to think when Obama and his Administration, along with the Democrats running congress going to do when they HAVE to sell off Alaska and/or Hawaii to get rid of our National Debt? There is in no way enough money left to pay this debt off from each American. They are going to have to sell off land to China, Russia, North Korea...they will auction off American soil to pay off the debt, you watch and see...it's just a matter of time, they have no choice now. You guys are really going to see what "HOPE AND CHANGE" is about then.
Zerep11'
The fastest way to defeat Soros is to impeach Obama, his administration, & defeat every Anti-Patriot Democrat, Lib & RINO at every level.
joeyblueyes
THIS NAZI GEPETTO MUST BE ARRESTED 4 TREASON WITH THE INDONESIAN
joeyblueyes
THE FACE OF THE FASCIST, AND SELF PROFESSED NAZI SYMPATHIZER, HE FITS RIGHT IN WITH OBITLAS 4TH REICH, WHICH SORE@$$ SECRETLY LEADS
pistol
I guess our "FREE MARKET" "CAPITALIST" country hasn't done a thing for this man, not at all.
That's not enough, got to be "POWER HUNGRY" too.
Capt
That Nazi needs to catch a bullet
KC Mob Member
I'd bet money George Soros has a "666" under his hair. This is Satan clearly, and he has his followers doing exactly what he wants them to do...destroy this country next. George Soros is going to destroy the world, 1 country at a time until he is the World Leader. You people need to see this!!!!
MichiganVet
this is evidence that Obamacare and Cap & tax are about destroying our economy and are not meant to fix anything. The subversives are in charge and that has long been their goal.
KC Mob Member
America needs to realize this and realize it FAST, that George Soros is the puppet master behind the strings of Obama. You need to read all about this joker! He wanted to be president and turn this country into a marxist country, but he was born in Germany. So he is running the Whitehouse thru Obama and the Czars and paying them to do this. America needs to wake up and realize this joker is evil and is out to destroy America...why doesn't anyone see this is beyond me.
history1
As Bush developed the idea of Home Land Security I believe we need another group to start protecting our country from people like Soros.This man has more money then brains and is dangerous to our economy. Unfortunately we have someone just like him as president.
Dinosjbe
What a misleading headline. Where is the journalism? Is this website really run by High Schoolers in a private Evangelist school? That is the rumor and it may be true with this stuff.
Freelance Photographer
Another rich democrat using his money to $crew the little people. When will the coolaid drinking followers wake up? The only wealth they want to spread is yours --- not theirs. They'll protect themselves financially while they play with out money. That's how all despots work.
qu
http://www.youtube.com/watch?v=mScGC7nFDxM
Zerep11'
THIS DEMENTED SOB IS AMERICA'S PUBLIC ENEMY #1 & OBAMA'S PUPPET-MASTER. WE NEED TO DO ALL WE CAN TO DESTROY THIS BASTARD & GET HIM THROWN-OUT OF OUR BELOVED COUNTRY FOR GOOD.
TO SOROS - THE DEVIL HIMSELF IS READY & WAITING FOR YOU, WITH KITTY-LITTER FOR LUBRICATION & ALL. SO PUCKER-UP SUNSHINE...
boyahdoggie
I want to know HOW to destroy this man..............WHAT can we the BLOG world do to CHIP away at his money and power!
ANYONE for the game?
IF me MAKES money then there HAS to be a WAY to get it back and to STOP him from HURTING the rest of us!
Janie
Looks like there's one set of rules for Soros and another set of rules for everyone else. He sounds like my brother-in-law.
RectoNoVerso
City Minister: I’m Angry At Derivatives Traders’ Unacceptable Pays
http://rectonoverso.wordpress.com/quickies/#city-trader-pay
Going Rogue
This guys history is that he has made billions in selling short or when he bets on others failures. Wouldn't it be appropriate that Soros looses his billions under a President Palin Administration that allows the American economy to roar once again and George Soros finds himself pennyless.
MARINE VET 64-67
SOUNDS GOOD TO ME! ! ! ! !
Experienced Commie Killer (Oath Keeper)
As a person who has spent his entire life in defense of our country, I could say this man is our enemy and needs to be eliminated.
Recon
The Master ready to step up to promote the Progressive Entitlement Plan for the USA?
Why not cut a deal, go away, but leave some of USA $$ before you leave.
man from TN
uncle george uncle george what are we ging to do with you?
i know we declare you a non welcome and keep you and your $$$ out of the U.S.!!
My voice
This guy owns Obama!
Darr Win
And he wants to be the biggest slave owner in America, damn near there now.
Darr Win
And he wants to be the biggest slave owner in America, damn near there now.
Darr Win
And he wants to be the biggest slave owner in America, damn near there now.
Darr Win
And he wants to be the biggest slave owner in America, damn near there now.
FAILURE-IN-CHIEF
50 MIL. is nothing for this guy, he will spend everything to push his final solution through.
LoatheLibs
and this is one of the top supporters of the liberal dems.anyone who can still support this party in any way shape or form definitely has a screw loose,and certainly does not even deserve to live in this country!
biker
Who put this man in charge of my life? I don't think so!! How can someone who is worth millions and millions of $ claim the Free Market doesn't work. He sure has done well for himself!! He needs to give up 95% of his income..that would show us his true heart. (Won't hold my breath) Can we find a fly on the wall at these meetings. This needs to be stopped. This man is evil.
Dinosjbe
Are are you advocating a 95% tax bracket for the rich?
Fred (cs)
It's time somebody put this nazi behind bars where he belongs.
slipknot
Man WTF is this guy sitting on it looks like it hurts? Prolly Al Gore's carbon spike.
therepublicrevealed
Contact your legisator now.
H.R.1207 WE DEMAND AN AUDIT!
http://www.therepublicrevealed.com/forums/index.php?topic=28.0
Navy(Retired) Oathkeeper
One word for this guy, INVESTIGATION.
public optional
Want to put an end to soros and his ilk? Then, dismantle the Fed. NOW!
Peter T
I love people like this. He's made billions of dollars in a Free-Market Capitalistic system, and now he's spending millions to destroy it. So in essence, now that he's made his money, he doesn't want anyone else to make theirs. Ever notice that most, if not all of these left wing liberal progressive democrats are mega wealthy, yet the push the socialistic agenda? They just don't want anyone else to make money. We have to get rid of these people- lets airlift them all to some island somewhere in upper Siberia where they can huddle around a fire all day and talk about doing something that will be good for someone else. You know, just feeling good about themselves.
Octavius
He began his illustrious career selling out his fellow Hungarian Jews to the NAZIs. He's complicit in the Holocaust. He admits it and is unrepentant for it. (it's recorded and is indisputable) And the left LOVES him for it.
Reagan 2012
He only wants certain entities, i.e unions, to get rich. Unions provide a huge chunk of funding for his far-left progressive movement.
Reagan 2012
Soros is one of the most dangerous men in the US. He is the patriarch of the far-left progressive movement that includes Democracy Alliance, Organizer's Forum and others. Organizer's Forum is a far-left progressive (in some cases Marxist) umbrella organization that includes ACCORN, TIDES, Center for Community Change and other "community organizations". These guys, unfortunately, are becoming more and more influential in Washington. Hopefully the Republicans and at least some Democrats will keep them in check.
South SIde Irish
What is it about these leftist, progressives that make billions in the "free market" and then go on to spend millions destroying it?????? So if I understand this correctly, the free market is only ok if progressives are making money. You know, if they really want redistributive social justice, let's start with them. Take all their money and possessions and give them to someone else. Then ask them what they think of their redistributive policies.
MSG
This man is pure evil. Every where he has been he caused nothing but probles and distruction.
He is satan in the flesh.
Cheryl Ohio
People fund Soros when they purchase PROGRESIVE Insurance , Cleveland baseball field is PROGRESIVE Field . What else is the American people pouring money into that this guy has his hand in ?
Totally Conservative
I just stumbled on this website: http://eclipptv.com/
It appears to be the conservative answer to the left-wing leaning YouTube. Check it out.
Totally Conservative
RON PAUL - THE FED - WHAT ARE THEY HIDING???
***
http://eclipptv.com/viewVideo.php?video_id=8065
Gan Gan
Don't sell him short. He is one of the three most dangerous people to our way of life. He would like nothing more than to destroy America and he is putting his money on it. He has been most influential in Obama's rise to power.
Totally Conservative
John F. Kennedy vs The Federal Reserve - What REALLY Happened
No man did more to expose the power of the FED than Louis T. McFadden, who was the Chairman of the House Banking Committee back in the 1930s. In describing the FED, he remarked in the Congressional Record, House pages 1295 and 1296 on June 10, 1932:
***
"Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the maladministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it".
***
To read the rest of this article: http://whatreallyhappened.com/WRHARTICLES/JFKvFedR.html?q=JFKvFedR.html
wakeuppeople
I do not understand why no one cares about these guys. They are the ones pulling the strings in both parties.