George Soros Theory of Reflexivity and the Methodology of Economic Science

George Soros Theory of Reflexivity Published online: 13 Jan 2014
I am honored that the editors of the Journal of Economic Methodology have created this special issue on the subject of reflexivity and have invited me, as well as a distinguished group of scholars, to contribute.

Of course I did not discover reflexivity. Earlier observers recognized it, or at least aspects of it, often under a different name. Knight (1921) explored the difference between risk and uncertainty. Keynes (1936, Chapter 12) compared financial markets to a beauty contest where the participants had to guess who would be the most popular . . .

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