Underwriting Democracy: Encouraging Free Enterprise and Democratic Reform Among the Soviets and in Eastern Europe

Rating:
Summary: Advocating positive change
Review: How can democracy be encouraged among the Soviets and in Eastern Europe? Underwriting Democracy: Encouraging Free Enterprise And Democratic Reform Among The Soviets And In Eastern Europe is a start, advocating positive change and using George Soros' own efforts in eastern Europe to describe how such changes may be fostered. Chapters examine America's foundation network, links between philosophy and practical democratic applications, and how Soros' early foray led to his acclaimed Open Society initiatives.


Rating:
Summary: Soros was convicted of insider trading in 2002
Review: Soros argues here that he helped fund democracy in order to 'open up' the economies of the eastern bloc, including Russia. Nevertheless any study of Soros's multi-billion dollar Hedge fund style investments will show that he has not only funded democracy but he has invested heavily in these countries to earn a profit. Keeping democracy alive mostly is in self interest to the Soros pocket book, rather then any benevolent idea of helping the 'people' of Eastern Europe, who mostly remain poor and starving, subjected to terror and mafia style corruption that did not exist under totalitarian Communism. In the end the people of Eastern Europe traded the false-god of Communism for the equally false-god of investment banking and cowboy capitalism, with Soros at the forefront.

A dangerous text full of self obsession and slight of hand regarding Soros's personal investments in these societies, smacking of conflict of interest.

Seth J. Frantzman

Rating:
Summary: False Rhetoric
Review: Soros argues here that he helped fund democracy in order to 'open up' the economies of the eastern bloc, including Russia. Nevertheless any study of Soros's multi-billion dollar Hedge fund style investments will show that he has not only funded democracy but he has invested heavily in these countries to earn a profit. Keeping democracy alive mostly is in self interest to the Soros pocket book, rather then any benevolent idea of helping the 'people' of Eastern Europe, who mostly remain poor and starving, subjected to terror and mafia style corruption that did not exist under totalitarian Communism. In the end the people of Eastern Europe traded the false-god of Communism for the equally false-god of investment banking and cowboy capitalism, with Soros at the forefront.

A dangerous text full of self obsession and slight of hand regarding Soros's personal investments in these societies, smacking of conflict of interest.

Seth J. Frantzman

Rating:
Summary: Soros was convicted of insider trading in 2002
Review: Soros was convicted for insider trading in December 2002. He was convicted with the late Robert Maxwell and a few others. Maxwell jump of his huge yacht off of Europe after his billion dollar scam collapsed. Thousands of UK pensioners lost their life savings thanks to Soros pal Maxwell.

Ask quite a few people in Eastern Europe if they want Soros help in encoraging "Democratic Reform." They don't want the help of a convicted criminal.

Rating:
Summary: George Soros Describes His Pro-Democracy Activities
Review: Underwriting Democracy is a reprint of the book that first appeared in 1991 as the former Soviet Union was spiraling into oblivion under Gorbachev. In the book, international speculator George Soros (best known for his successful run on the Pound a number of years ago) describes his activities in setting up foundations to encourage democracy in formerly communist countries, his attempts to advise on how to create new democracies in these countries and his philosophy for how thought and action can change the "normal" course of human events (which is to run to harmful extremes).

I have known a number of people who have funded foundations in formerly communist countries and the materials here ring true with what others have told me. There was usually an attempt to subvert the money for other purposes, a bureaucracy had to be avoided and there were many difficulties in putting funds to work in useful ways. Anyone thinking about encouraging governmental reform through nonprofit organizations can learn useful lessons from reading the first part of the book.

Throughout the book, Mr. Soros makes informed guesses about what will follow in each of the former communist countries. I was fascinated to see how well he understood the social and economic forces at the time . . . and how frequently he called the future quite accurately. Fortunately, his worst pessimism about what could happen in the former Soviet Union did not come to pass.

His attempts to help direct reform in the Soviet Union as an advisor come across as very optimistic, determined and naive. But sometimes Don Quixote can produce results where no one else can. He can at least feel good that he tried to help.

The least satisfactory part of the book is his explanation of the theory of reflexivity, which he describes in detail in part three. I think I followed the argument. It could have been stated much more simply and better explained with more government-related examples. The financial market examples are very clear.

At the end, I found myself wondering what nations could be doing today to encourage democracy in other areas where it has not done well. A number of helpful solutions are contained in a new book, Soft Power, which I encourage you to consider.

Rating:
Summary: George Soros Describes His Pro-Democracy Activities
Review: Underwriting Democracy is a reprint of the book that first appeared in 1991 as the former Soviet Union was spiraling into oblivion under Gorbachev. In the book, international speculator George Soros (best known for his successful run on the Pound a number of years ago) describes his activities in setting up foundations to encourage democracy in formerly communist countries, his attempts to advise on how to create new democracies in these countries and his philosophy for how thought and action can change the "normal" course of human events (which is to run to harmful extremes).

I have known a number of people who have funded foundations in formerly communist countries and the materials here ring true with what others have told me. There was usually an attempt to subvert the money for other purposes, a bureaucracy had to be avoided and there were many difficulties in putting funds to work in useful ways. Anyone thinking about encouraging governmental reform through nonprofit organizations can learn useful lessons from reading the first part of the book.

Throughout the book, Mr. Soros makes informed guesses about what will follow in each of the former communist countries. I was fascinated to see how well he understood the social and economic forces at the time . . . and how frequently he called the future quite accurately. Fortunately, his worst pessimism about what could happen in the former Soviet Union did not come to pass.

His attempts to help direct reform in the Soviet Union as an advisor come across as very optimistic, determined and naive. But sometimes Don Quixote can produce results where no one else can. He can at least feel good that he tried to help.

The least satisfactory part of the book is his explanation of the theory of reflexivity, which he describes in detail in part three. I think I followed the argument. It could have been stated much more simply and better explained with more government-related examples. The financial market examples are very clear.

At the end, I found myself wondering what nations could be doing today to encourage democracy in other areas where it has not done well. A number of helpful solutions are contained in a new book, Soft Power, which I encourage you to consider.