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The Bubble Of American Supremacy: Correcting The Misuse Of American Power Hardcover – December 15, 2003


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Long known as "the world's only private citizen with a foreign policy," George Soros combines his razor-sharp sense of economic trends with his passionate advocacy for open societies and decency in world politics to come up with a workable, and severely critical, analysis of the Bush administration's overreaching, militaristic foreign policy.

Soros believes that this administration's plans abroad come from the same sort of "bubble" psychology that afflicted our markets in the late 1990s. They have used a real fact, our overwhelming military supremacy, to create a deluded worldview, that might makes right and that "you're either with us or against us," in the same way that the recent boom used a real fact, the growth in technology, to lead to a delusion, the "new economy."

Like the best of the books that have responded quickly to world events,
The Bubble of American Supremacy has a clear, intriguing, comprehensive thesis that makes necessary, and compelling, order of our seemingly disordered world.
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Editorial Reviews

Amazon.com Review

Proving that exorbitant wealth and allegiance to the Republican Party do not necessarily go hand in hand, billionaire George Soros offers a sharp critique of the neoconservative philosophy that he sees guiding the George W. Bush administration. In The Bubble of American Supremacy, Soros warns that American efforts to be the ultimate global superpower will not only be unsuccessful but will make America and the world infinitely more unstable. Bush and company, he says, have callously used the events of September 11th for their own political gain and misled the world about the threat posed by Iraq. In previous American presidential elections, billionaires Steve Forbes and Ross Perot have tried to run for president themselves to address the country's problems, but Soros--while no less zealous about his convictions--sees his role a little differently. "I have made it my primary objective to persuade the American public to reject President Bush in the upcoming elections," he writes, "We have been deceived." The arguments he makes and the evidence he presents are interesting enough, although there really isn't anything here that hasn't been written in scores of other anti-Bush books released around the same time. What sets Soros's book apart from all the others is the recurring presence of Soros himself, frequently citing previous books he's written, speeches he's made, and highlights of his career. The pronoun "I" is never far away. Granted, it's been an interesting career; his financial success coupled with his passionate political convictions would make for a terrific memoir, but at times in this book Soros's ego gets almost comically in the way. Referring to his long-held support for open societies, he says this philosophy "could almost be called the Soros doctrine" only to renounce propriety over it a page later. Soros is a capable writer and a clear thinker, and he ably articulates his views. Readers interested in criticisms of Bush and company have several options but readers interested in George Soros will find plenty to satisfy them here. --John Moe

From Publishers Weekly

Soros has made it his "primary objective to persuade the American public to reject President Bush in the forthcoming elections." This aspiration is immediately clear from the outset of his new book. The founder of Soros Fund Management (and author of The Crisis of Global Capitalism, etc.) gives sweeping critiques of the current administration and shows how its post-9/11 policy has pointed the country in a direction that he believes will lead to ruin. The book's major shortcoming is that it fails to add anything particularly new to this project, and is not always convincing. It's not clear, for instance, why a pact of signatories to the Warsaw Declaration for the development of democracy would be more effective than the U.N. in getting nations to put the common good above national interest. To his credit, Soros accurately presents the important dimensions of the "Bush Doctrine" foreign policy and its vision of America's role in the world. He is able to incorporate his expertise in areas of international finance and to give some interesting and unique insights, such as seeing American supremacy as the boom part of a boom-bust cycle. But neither simple explication nor periodic nuggets of wisdom make this a particularly good read. Overall, the book is clear, but it will do little to persuade an attentive American audience that they should vote Bush out in 2004.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Product details

  • Publisher ‏ : ‎ PublicAffairs; 1st edition (December 15, 2003)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 224 pages
  • ISBN-10 ‏ : ‎ 1586482173
  • ISBN-13 ‏ : ‎ 978-1586482176
  • Item Weight ‏ : ‎ 12 ounces
  • Dimensions ‏ : ‎ 5.5 x 0.75 x 7.75 inches
  • Customer Reviews:

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George Soros
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George Soros is the chairman of Soros Fund Management and the founder the Open Societies Institute, a global network of foundations dedicated to supporting open societies. He is the author of several best-selling books including The New Paradigm for Financial Markets/The Crash of 2008 and What It Means, The Bubble of American Supremacy and The Age of Fallibility. He was born in Budapest and lives in New York City.

Customer reviews

3.9 out of 5 stars
3.9 out of 5
28 global ratings

Top reviews from the United States

Reviewed in the United States on July 3, 2007
...to many Americans George Soros is a bad guy with an Eastern European name that tried to buy John Kerry into the White House, a sad and mistaken impression developed by the same folks that bring us more Brittany and Paris when we really need to hear about affordable health care and a plan for Iraq.

Just as Mr. Soros has spent $500 Million a year for more than a decade trying to relieve suffering and increase opportunity any where in the world that needs it, he has also spent many hours writing a series of books that explain a clear way to look at future needs and the tools to develop the International Policies that will meet those needs.

I can't recommend this or any other of Mr. Soros efforts strongly enough, you'll never look at the world the same way again.
3 people found this helpful
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Reviewed in the United States on January 18, 2004
This book made me want to meet Soros, shake his hand and just say "Thank you" for articulating such a serious and urgent problem so clearly.
38 people found this helpful
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Reviewed in the United States on March 7, 2004
The most fascinating part of this book is not in the text itself, but in the Appendix under the title "My Conceptual Framework." Soros does what few authors on the left do; he clearly and forthrightly states the fundamental principles from which he operates. Would that everyone would be so candid!
He calls his philosophy "radical fallibility." It is based on his mentor Karl Popper's belief that ultimate scientific truth remains permanently beyond our reach. Soros applies the same principal to social situations, concluding that we are always wrong, although the nature and extent of our error is variable. A corollary is the "fertile fallacy," which holds that an idea may be valid initially, but when expanded to cover larger areas become corrupted. An example of a fertile fallacy is the scientific method -- valid when applied to science, but leading to distortion and misunderstanding when applied to the social sciences. Soros states, without elaboration, that "my concept of fertile fallacy does not claim to be anything more than a fertile fallacy."
Soros' postulates lead him to his model of the "open society". The open society is one based on the conclusion that beliefs are provisionally true while keeping them open to constant reexamination. He states: "An open society holds itself open to improvement. It is based on the recognition that people have divergent views and interests and nobody is in possession of the ultimate truth." Freedom of thought, expression, and choice are essential to his open society. People living within the society decide the practical limitations on these freedoms.
Radical fallibility stands in dramatic contrast to the absolutes in the Declaration of Independence: "We hold these truths to be self evident, that all men are created equal (Justice); "that they are endowed by their creator with certain inalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness" (Freedom); and, "That to secure these rights, Governments are instituted among Men, deriving their just powers from consent of the governed," (Self Government).
George Soros has become the new best friend of the Democratic Party, providing millions to fund surrogate organizations like MoveOn.Org. If his philosophy is shared by a majority of democrats, liberals, and progressives, and if most Republicans, conservatives, and libertarians hold to the traditional notions of democracy, then one must conclude that the schism in American society is greater than previously thought.
10 people found this helpful
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Reviewed in the United States on November 8, 2019
Boring book, a lot of hyperbole ... do you know someone who likes to hear themselves talk? Then this is it
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Reviewed in the United States on May 11, 2004
"All in all, at no other time has America's position declined as dramatically in as short a period as it has since George W. Bush became president." (p. 74)
The first part of this book is a devastating critique of the imperialistic intent of the Bush administration. Soros constructs calmly and with measured deliberation a very sharp and very large pin, as it were, with which to burst the delusive bubble of what he calls the Bush doctrine of "American supremacy." He explains why it has failed in Iraq and why it will fail elsewhere. He avers:
"The United States cannot be either the police or the godparent of the world. America needs to work together with other countries." (p. 114)
I will not reprise his arguments here. Read them for yourself. To my mind they are utterly convincing. What I want to do instead is to present Soros's solution which is the subject of the second part of the book. His intent is to avoid a repetition of Bush's blunder in Iraq while at the same time protect the world from repressive and murderous regimes. What he has come up with is a shift in understanding of sovereignty from the sovereignty of governments to the sovereignty of people. He writes:
"The principle of sovereignty needs to be reconsidered. Sovereignty belongs to the people; the people are supposed to delegate it to the government through the electoral process." (p. 102)
He goes on to argue that the international community of states has the "responsibility to protect" the people from regimes intent on murder and mayhem. His intent is to justify intervention in the internal affairs of nations since he believes that what happens within a nation affects the world as a whole. Soros argues further that it would be a good idea to prevent crises before they develop. Instead of "the Bush doctrine of preemptive action of a military nature" he calls for "a doctrine of preventive action of a constructive nature." (p. 111)
Part of the impetus for Soros's argument comes from the Warsaw Declaration of 2000 in which it is proclaimed that "it is in the interest of all democratic countries...to foster the development of democracy in all other countries." (p. 112)
While Soros is a brilliant man of great visionary ability, I think it can be safely said that his doctrine is, considering the present state of international affairs, utopian. Nonetheless I think he is actually predicting what will happen in the future, although I don't think that such actions will be carried out by or under the auspices of the United Nations as it is presently constituted (and Soros says as much: see pp. 114-117). What Soros is envisioning is a coalition of democratic states led by the US and the European Union countries along with other economically and socially advanced countries deciding at some point that it is in their best interests to put the dictators and failed regimes out of business and to support and nurture democratic ones. If this works then the entire world might be constituted of nation states who solve their differences without recourse to the use of military force. At such time a new United Nations will be formed with a more equitable distribution of power among its members as well as greater authority and the real ability to enforce its regulations. Such a United Nations would be something similar to a United States of the World.
As interesting sidebar to Soros's argument is the idea that it is the very process of globalization that leads to the need to intervene in the internal affairs of nations. It is because of the international exchange of goods and services and the globalization of capital that the interests of one nation are affected by the actions of another. The resources of any one nation are themselves international. It used to be, as Soros points out, that most of the economic activity of any given state was internal. Now we have our wealth all over the globe. Consequently we must have the institutions that protect our interests and ensure the "maintenance of the market mechanism itself" all over the globe.
Should there be any doubt about the revolutionary nature of Soros's new world order, consider this from page 142: "The natural resources of a country ought to belong to the people, but the rulers often exploit the resources for their own personal needs. This violates the sovereignty of the people and calls for external intervention."
Consider this as well: "...the United States cannot avoid intervening in the internal affairs of other countries, but I claim that we must do so only on legitimate grounds." He quickly adds, so that there can be no mistake: "The Bush doctrine cannot be accepted by the rest of the world as legitimate." (pp. 171-172)
I highly recommend that readers read the Appendix entitled "My Conceptual Framework." In it Soros presents his ideas about "reflexivity," "radical fallibility," "the open society," and "the human uncertainty principle." Here's a sample of the profound understanding that this brilliant man has come to over the course of his extraordinary life: "We must treat our beliefs as provisionally true while keeping them open to constant reexamination. This is the foundation principle of an open society." (p. 195)
This principle, I must note, is allied to the idea of the invisible hand of the free market in which the intelligence of uncounted participants is reflected. There is a cognate in the ideas that are coming out of complexity theory in which we learn that intelligence is not a top down phenomenon, but something that can be brought about by autonomous individuals acting cooperatively like the neurons of our brains or ants in a colony or bees in a hive. But if individuals are not free to express themselves, but are oppressed by authority, their wisdom will never reach coalescence.
11 people found this helpful
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