George Soros | Charlie Rose | 2004 | Summary and Q&A

Summary

In this video, George Soros discusses his book "The Bubble of American Supremacy" and his arguments against the Bush administration, the war in Iraq, and the pursuit of American supremacy. Soros compares the pursuit of American supremacy to a stock market bubble, where there is a misconception and misinterpretation that eventually becomes unsustainable and leads to a collapse. He believes that the Bush administration's approach to foreign policy and the doctrine of preemptive action is dangerous and undermines international law. Soros also discusses the need for legitimate international intervention in countries with oppressive or dictatorial governments and the role of the United Nations in promoting democracy and protecting human rights. He concludes by arguing that the upcoming elections will be a referendum on the Bush doctrine, and encourages people to reject it in order to restore America's standing as a peace-loving nation.

Questions & Answers

Q: What is the "bubble of American supremacy" and why does Soros believe it is comparable to a stock market bubble?

Soros sees a parallel between a stock market bubble and the pursuit of American supremacy. He believes that just like a stock market bubble, the pursuit of American supremacy is based on a solid foundation but is misinterpreted and carried too far. The false idea of American supremacy is reinforced by reality, gathering momentum until it becomes too far removed from reality and eventually collapses.

Q: Can you explain Soros' comparison of the dot-com bubble to the pursuit of American supremacy?

Soros uses the dot-com bubble as an example to illustrate how a misconception and misinterpretation can influence the development of an industry. The dot-com bubble was based on the innovation and potential of the internet, which was misinterpreted as a source of enormous profits and a new kind of wealth. This misinterpretation influenced the development and use of the internet, reinforcing the false idea and creating a self-reinforcing feedback mechanism between reality and the stock market perception of reality. Eventually, the bubble became unsustainable and collapsed.

Q: How does Soros apply the concept of a bubble to American foreign policy and supremacy?

Soros argues that the reality is that the United States is the most powerful nation on earth and has a dominant position in the world. However, the misconception is that this dominance should be used to impose the United States' will on the world, which is expressed in the Bush doctrine. The Bush doctrine consists of maintaining unquestioned military superiority and the right to preemptive action. Soros believes that this mindset of imposing power and will on the world creates a dangerous discontinuity in America's role and undermines international law.

Q: Does Soros agree with the United States' need to maintain military superiority?

Soros agrees that the United States should have military superiority in most parts of the world for national security reasons. He also acknowledges that there may be circumstances where preemptive action is necessary. However, he cautions against combining military dominance and the use of power to impose America's will on the world, as it can lead to dangerous consequences.

Q: Why does Soros believe that the United States' approach to foreign policy and the pursuit of American supremacy has made America less safe?

Soros argues that the invasion of Iraq and the subsequent occupation has weakened the United States militarily, leading to less threat projection and the inability to effectively deal with other threats. He believes that the United States is seen as an occupier rather than a liberator, which has eroded goodwill among the Iraqi people and increased anti-Americanism around the world. He warns that the pursuit of American supremacy has created widespread distrust and resentment, making America less safe in the long run.

Q: How does Soros propose dealing with dictatorial governments or oppressive regimes in countries like Iraq?

Soros believes that external intervention may be necessary in countries with abusive rulers and governments, as these rulers often abuse their power and oppress their own people. However, he argues that the intervention must have the legitimacy of the international community. While the United Nations is an ideal platform for legitimizing intervention, it may not always be possible due to veto power. In such cases, a coalition of democracies or open societies could also provide legitimacy, as long as it includes countries from different regions and has the support of neighboring countries.

Q: What is Soros' argument regarding the overthrow of Saddam Hussein and the potential for creating democracy in Iraq?

Soros believes that the overthrow of Saddam Hussein and the desire to create democracy in Iraq were legitimate goals; however, the execution and aftermath of the invasion has undermined these goals. He argues that the Iraqis did not see the United States as liberators but as occupiers, which weakened America's position and undermined any potential goodwill. Soros believes that true democracy can only be established when the people of a country take ownership of the process and that the transition in Iraq would require a political solution and the legitimacy that the United Nations could provide.

Q: How does Soros view the upcoming elections in the United States?

Soros sees the upcoming elections as a referendum on the Bush doctrine. He believes that if President Bush is re-elected, it will be an endorsement of the Bush doctrine and its consequences, including widespread distrust and resentment towards America. However, if the Bush doctrine is rejected, Soros believes that it can be seen as a temporary aberration and that America can restore its rightful place in the world as a powerful but peace-loving nation.

Takeaways

In "The Bubble of American Supremacy," George Soros argues against the Bush doctrine and the pursuit of American supremacy as practiced by the Bush administration. He compares the pursuit of American supremacy to a stock market bubble, where a solid foundation is misinterpreted and carried too far, eventually leading to a collapse. Soros believes that the Bush administration's approach to foreign policy, including the war in Iraq and the doctrine of preemptive action, has made America less safe and has created widespread distrust and resentment. He advocates for a legitimate international intervention in countries with oppressive regimes and emphasizes the importance of the United Nations and international law. Soros highlights the need for the upcoming elections to reject the Bush doctrine and restore America's standing as a peace-loving nation.