George Will
George Will
George Frederick Willis an American newspaper columnist and political commentator. He is a Pulitzer Prize–winner known for his conservative commentary on politics. In 1986, The Wall Street Journal called him "perhaps the most powerful journalist in America," in a league with Walter Lippmann...
ProfessionJournalist
Date of Birth4 May 1941
opposites assuming prevailing
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
play roles financial
The financial markets play an active role in determining what's going to happen, how the economy is going to function.
reality findings
In politics, manipulating reality can take presidence over finding reality.
perception divergence
There is always a divergence between our perception and what actually exists.
would-be fundamentals normal
In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect. When that happens, markets enter into a state of dynamic disequilibrium and behave quite differently from what would be considered normal by the theory of efficient markets. Such boom/bust sequences do not arise very often, but when they do, they can be very disruptive, exactly because they affect the fundamentals of the economy.
political needs moral
As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.
mistake decision framework
My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.
always-wrong
Market prices are always wrong.
trends premises
Find the trend whose premise is false, and bet against it.
people leader needs
If the terrorists have the sympathy of people, it's much harder to find them. So we need people on our side, and that leads us to be responsible leaders of the world, show some concern with the problems.
law care health-care
Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
real exercise investing
The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).
fall investing financial
As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
matter investing credit
It is credit that matters, not money (in other words, monetarism is a false ideology).