Soros Says Economic Crisis Signals End of a Free-Market Model
Monday, February 23, 2009 : PermalinkBloomberg – Billionaire investor George Soros said the current economic upheaval has its roots in the financial deregulation of the 1980s and signals the end of a free-market model that has since dominated capitalist countries.
Liberalization of the financial industry begun by the Reagan administration has led to a series of crises forcing government intervention, Soros told economists and bankers at a Feb. 20 private dinner at Columbia University in New York. The global recession, triggered by the collapse of the U.S. housing market, has “damaged the financial system itself,” he said.
Tags: 1980s, billionaire, capitalist countries, collapse, columbia-university, crises, economic upheaval, economists, financial deregulation, george soros, global recession, government-intervention, housing-market, investor, liberalization, market model, private dinner, reagan administration, roots, signals
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