Interesting interview with George Soros

George Soros: What if the world isn't worth saving? | Marketplace From American Public Media:

First of all, it should be noted that they are talking about the World Financial System, NOT the world itself!

David Brancaccio did an interesting interview with George Soros for Marketplace. Speaking at the conference at Bretton Woods that is intended to "rethink" economics.

Short version: he thinks that many of the problems now facing America and other countries are not the fault of Governments, but financial intermediaries.

"Obviously, we need financial services and obviously they are beneficial. But to have 7 or 8 percent of the GDP -- that may be too much!"

Good interview. Clearly there are problems, but much good too. I like the ending by Niall Ferguson:

"Most of the financial innovation that began in the 1980s was beneficial, increased economic efficiency and increased the efficiency of the world economy as a whole."

Listen to the interview with Soros here.