Fallibility, reflexivity, and the human uncertainty principle

@article{Soros2013FallibilityRA,
  title={Fallibility, reflexivity, and the human uncertainty principle},
  author={George Soros},
  journal={Journal of Economic Methodology},
  year={2013},
  volume={20},
  pages={309 - 329}
}
  • G. Soros
  • Published 2013
  • Economics
  • Journal of Economic Methodology
I am honored that the editors of the Journal of Economic Methodology have created this special issue on the subject of reflexivity and have invited me, as well as a distinguished group of scholars, to contribute. Of course I did not discover reflexivity. Earlier observers recognized it, or at least aspects of it, often under a different name. Knight (1921) explored the difference between risk and uncertainty. Keynes (1936, Chapter 12) compared financial markets to a beauty contest where the… Expand
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References

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An Essay on the Nature and Significance of Economic Science.
Lionel Robbins’s An Essay on the Nature and Significance of Economic Science (1932) made at least three important contributions: (1) constructing a more modern, focused, and general definition ofExpand
On the role of reflexivity in economic analysis
Soros' theory of reflexivity is meant to apply to a variety of social processes. In economics, it implies that many processes will be subject to “boom-bust” patterns in which expected outcomesExpand
Reflexivity, complexity, and the nature of social science
In 1987, George Soros introduced his concepts of reflexivity and fallibility and has further developed and applied these concepts over subsequent decades. This paper attempts to build on Soros'sExpand
The Poverty of Historicism
On its publication in 1957, The Poverty of Historicism was hailed by Arthur Koestler as 'probably the only book published this year which will outlive the century.' A devastating criticism of fixedExpand
The Open Society and its Enemies
THIS is a book of great length (444 pages of text), great learning (168 pages of notes), but not of commensurate understanding. It is a pity, because its defects may conceal its undoubted merits.Expand
Open Society: Reforming Global Capitalism
George Soros's The Crisis of Global Capitalism became an international bestseller and an instant classic; a must read for anyone concerned with the complex market forces that rule our global economyExpand
The Soros Lectures at the Central European University
Five lectures George Soros recently delivered at the Central European University in Budapest - which he founded in 1991 - distill a lifetime of thinking on finance, capitalism and open society In aExpand
The Crash of 2008 and What It Means: The New Paradigm for Financial Markets
Nancy Abelmann’s book, The Intimate University, reveals stories of Korean American students at the University of IllinoisUrbana/Champaign, where she has been teaching for many years. She indicatesExpand
The Crisis Of Global Capitalism: Open Society Endangered
George Soros applies his experience in the world of finance to explain what is happening in the collapsing global economy. The Russian economy has collapsed leading to inflation and economicExpand
Risk, Uncertainty and Profit
In Risk, Uncertainty and Profit, Frank Knight explored the riddle of profitability in a competitive market profit should not be possible under competitive conditions, as the entry of newExpand
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