…from today’s New York Times.
Louise Story writes The Face of a Prophet on George Storos. One quote jumped out at me: “Now in his eighth decade, [Soros] yearns to be remembered not only as a great trader but also as a great thinker. The market theory he has promoted for two decades and espoused most of his life — something he calls “reflexivity” — is still dismissed by many economists. The idea is that people’s biases and actions can affect the direction of the underlying economy, undermining the conventional theory that markets tend toward some sort of equilibrium. Mr. Soros said all aspects of his life — finance, philanthropy, even politics — are driven by reflexivity, which has to do with the feedback loop between people’s understanding of reality and their own actions. Society as a whole could learn from his theory, he said. “To make a contribution to our understanding of reality would be my greatest accomplishment,” he said.
The other quickie is David Brooks’ humorous op-ed The Great Forgetting. The quote from there: “Society is now riven between the memory haves and the memory have-nots. On the one side are these colossal Proustian memory bullies who get 1,800 pages of recollection out of a mere cookie-bite. They traipse around broadcasting their conspicuous displays of recall as if quoting Auden were the Hummer of conversational one-upmanship. On the other side are those of us suffering the normal effects of time, living in the hippocampically challenged community that is one step away from leaving the stove on all day.”
Now if we could only put those two together, then we might actually have a great theory!