GEORGE SOROS REFLEXIVITY PDF

Overview[ edit ] In social theory , reflexivity may occur when theories in a discipline should apply equally to the discipline itself; for example, in the case that the theories of knowledge construction in the field of sociology of scientific knowledge should apply equally to knowledge construction by sociology of scientific knowledge practitioners, or when the subject matter of a discipline should apply equally to the individual practitioners of that discipline e. More broadly, reflexivity is considered to occur when the observations of observers in the social system affect the very situations they are observing, or when theory being formulated is disseminated to and affects the behaviour of the individuals or systems the theory is meant to be objectively modelling. Thus, for example, an anthropologist living in an isolated village may affect the village and the behaviour of its citizens under study. The observations are not independent of the participation of the observer. Reflexivity is, therefore, a methodological issue in the social sciences analogous to the observer effect. Within that part of recent sociology of science that has been called the strong programme , reflexivity is suggested as a methodological norm or principle, meaning that a full theoretical account of the social construction of, say, scientific, religious or ethical knowledge systems, should itself be explainable by the same principles and methods as used for accounting for these other knowledge systems.

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Soros believes these perceptions control price trends, domestic government regulation and foreign markets. He is also arguably one of the greatest financial investors working today. In his well-regarded book, The Alchemy of Finance, Soros utilizes his management of the Venezuelan based Quantum Fund to demonstrate and test his own market theories, and offers unique international economic solutions to world-wide financial crises. He also states that investment trades are usually based on biased behaviors or perceptions.

And he states that various movements in the financial market created by these biased perceptions and trades can actually change the underlying principles and real value of the economic market. Conventionally, many economic theorists state that people behave rationally when they make economic decisions.

He points to self-reinforcing price based stock performances, such as individual people buying when they see a stock go up, and selling when they see it go down, which in turn create wider economic fluctuations throughout investment and credit markets internationally. The theory of reflexivity basically asserts that individual biases can at least potentially alter basic economic fundamentals.

Soros claims that his concept of reflexivity, led directly to his own financial success through his understanding of the results of reflexive effects in the market.

He also states that reflexivity is most easily witnessed when investor bias grows and widens through trend-monitoring speculators and situations that employ the leveraging of equity.

In the current economic environment, a good example of reflexivity has occurred in the housing market. As lenders made more cash accessible to home buyers, more people bought more expensive housing, which increased the prices of housing. Because the housing prices increased, investments in housing looked sound, and more money was lent. With loans guaranteed by the government, and a general government-sponsored attitude of the positive nature of home ownership, prices and desire for homes both mounted, lending standards were lowered, and the housing market and the lenders investing in it both reacted reflexively to the biased perception that these actions would lead to continued economic gain.

It essentially refers to a circular relationship moving between cause and effect, with both affecting each other in a self-referencing economic symbiosis. Reflexivity occurs when the observations and actions of individuals actually affect the situations or markets they are watching. Susan Porter is a financial writer whose interests span from market research, to stock trading, to psychology.

Read more of her work on the blog Stock Trading!

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George Soros’ Theory of Reflexivity

The purpose of this thread is for others to learn more about Reflexivity and also to enhance my understanding of it too since through recent Google searches and reading articles it appears to be a misunderstood concept or not understood at all. We are all part of reality. Included in this reality, clearly, is everything we recognise. However, we are also thinking beings, so therefore our thoughts are also part of this reality, however since our thoughts do not always correspond to the facts ie are not reflected in reality these are best considered as the subjective aspect of reality. Now our minds really have two modes, or functions, if you like, one is to understand reality, that is cognition or the cognitive function, the other is to influence reality, that is to manipulate or the manipulative function. In order that we can operate in reality we need to use our cognition in order to try and understand it.

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Reflexivity (social theory)

Soros believes these perceptions control price trends, domestic government regulation and foreign markets. He is also arguably one of the greatest financial investors working today. In his well-regarded book, The Alchemy of Finance, Soros utilizes his management of the Venezuelan based Quantum Fund to demonstrate and test his own market theories, and offers unique international economic solutions to world-wide financial crises. He also states that investment trades are usually based on biased behaviors or perceptions.

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George Soros and his General Theory of Reflexivity

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