The False Belief at the Heart of the Financial Turmoil

• Financial Times
• April 3, 2008

The proposal from Hank Paulson, US Treasury secretary, for reorganising government regulation of financial institutions misses the point. We need new thinking, not a reshuffling of regulatory agencies. The Federal Reserve has long had authority to issue rules for the mortgage industry but failed to exercise it.

The Worst Market Crisis in 60 Years

• Financial Times
• January 22, 2008

The current financial crisis was precipitated by a bubble in the US housing market. In some ways it resembles other crises that have occurred since the end of the second world war at intervals ranging from four to 10 years. However, there is a profound difference: the current crisis marks the end of an era of credit expansion based on the dollar as the international reserve currency.

On Israel, America and AIPAC

• The New York Review of Books
• April 12, 2007

The United States and Israel seek to deal only with the president of the Palestinian Authority, Mahmoud Abbas, in the hope that new elections would deny Hamas the majority it now has in the Palestinian Legislative Council. This is a hopeless strategy because Hamas has said it would boycott early elections, and even if their outcome would result in Hamas's exclusion from the government, no peace agreement would hold without Hamas's support.

America and Israel Must Open the Door to Hamas

• Financial Times
• March 19, 2007

The Bush administration is again committing a blunder in the Middle East by supporting the Israeli government in its refusal to recognise a Palestinian unity government that includes Hamas.

Remarks delivered at the EPC – OSF Policy Dialogue

• Brussels, Belgium
• November 20, 2006

Europe is in search of its identity. I don't think one needs to look very far. To my mind, the European Union embodies the principles of an open society and it ought to serve as a model and motive force for a global open society.

Interview with Harvey Blume

• The Boston Globe
• August 20, 2006

"I GOT LOST in philosophical abstractions," writes 75-year-old billionaire philanthropist George Soros, about his attempt, decades ago, to compose a philosophical treatise. "I decided to quit and devote myself to making money."

A Self-Defeating War

• The Wall Street Journal
• August 15, 2006

The war on terror is a false metaphor that has led to counterproductive and self-defeating policies. Five years after 9/11, a misleading figure of speech applied literally has unleashed a real war fought on several fronts -- Iraq, Gaza, Lebanon, Afghanistan, Somalia -- a war that has killed thousands of innocent civilians and enraged millions around the world.

A New Bargain for UN Reform

• Project Syndicate
• May 4, 2006

The United Nations is torn apart by internal tensions. No sooner was the controversy over the creation of a Human Rights Council satisfactorily resolved than a new battle has erupted. The United States is pressing for administrative reforms and threatening to cut off funding if the reforms are not forthcoming.

Rosneft Flotation Would Spur Putin On

• Financial Times
• April 26, 2006

The planned initial public offering of Rosneft, the Russian state-owned oil company, on the London Stock Exchange raises serious ethical and energy security issues. The ethical issues are relatively straightforward. The main asset of Rosneft is the Yugansk oilfield that was acquired from Yukos when that company was assessed for back taxes and its assets were auctioned off.

Back to Afghanistan

• Project Syndicate
• February 2, 2006

While the unremitting violence in Iraq grabs the world’s headlines, Afghanistan still struggles for peace. The country’s parliament is packed with warlords, the drug trade is thriving, and violence is on the rise. World leaders have an opportunity to steer developments onto a new and more hopeful path when they meet in London to forge a new compact with Afghanistan.