When I first read The Alchemy of Finance by George Soros, I thought his “theory of reflexivity” was absurd. It seemed to be an ex post facto. AA ~ George Soros (Trades, Portfolio) (via FT). The conceptual framework that Soros is referring to is reflexivity. Understanding what. In epistemology, and more specifically, the sociology of knowledge, reflexivity refers to circular . Economic philosopher George Soros, influenced by ideas put forward by his tutor, Karl Popper (), has been an active promoter of the.

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Foucault examines the history of Western thought since the Renaissance and argues that each historical gdorge he identifies 3, while proposing a 4th has an epistemeor “a historical a priori “, that structures and organizes knowledge. Anthropologists by nationality Anthropology by year Bibliography Journals List of indigenous peoples Organizations.

New Frontiers in the Sociology of Knowledge.

Reflexivity (social theory)

Sooner or later they reach a point where the sentiment is reversed and negative expectations ref,exivity self-reinforcing in the downward direction, thereby explaining the familiar pattern of boom and bust cycles [4] An example Soros cites is the procyclical nature of lending, that is, the willingness of banks to ease lending standards for real estate loans when prices are rising, then raising standards when real estate prices are falling, reinforcing the boom and bust cycle.

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A low level of reflexivity would result in an individual shaped largely by their environment or “society”. Because the pattern is self-reinforcing, markets tend towards disequilibrium.

Human Reflexivity and Social Mobility. In equilibrium theory, prices in the long run at equilibrium reflect the underlying economic fundamentalswhich are unaffected by tneory.

Policy Sociology as a Public Good. Sinhalese demons and Tewa clowns. Margaret Archer has written extensively on laypeople’s reflexivity.

Soros has often claimed that his grasp of the principle of reflexivity is what has given him his “edge” and that it is the major factor contributing to his successes as a trader. Within sociology more broadly—the field of origin— reflexivity means an act of reflexivitty where examination or action “bends back on”, refers to, and affects the entity instigating the action or examination. Giddensfor example, noted that constitutive reflexivity is possible in any social system, and that this presents a distinct methodological problem for the social sciences.


InSoros funded the launch of the Institute for New Economic Thinking with the hope tjeory it would develop reflexivity further. He further suggests that property price inflation is essentially a reflexive phenomenon: It commonly refers to the capacity of an agent to recognize forces of socialization and alter their place theiry the social structure.

In researching cultural practices reflexivity plays important role but because of its complexity and subtlety it often goes under-investigated or involves highly specialized analyses.

Reflexivity (social theory) – Wikipedia

Giddens accentuated this theme with his notion of ” reflexive modernity ” — the argument that, over time, society is becoming increasingly more self-aware, reflective, and hence reflexive. For Bourdieu, therefore, reflexivity is part of the solution, not the problem. The problem is even more difficult in the social sciences. He finishes the book by posing the problem of the age of man and our pursuit of knowledge- where “man is both knowing subject and the object of his own study”; thus, Foucault argues that the social sciences, far from being objective, produce truth in their own mutually exclusive discourses.

Social sciences portal Anthropology portal Economics portal Sociology portal. This is the opposite of the process described in textbooks and built into economic models, which always assume that financial expectations adapt to reality, not the other way round.

For her, human reflexivity is a mediating mechanism between structural properties, or the individual’s social context, and action, or the individual’s ultimate concerns. Archaeological Biological Cultural Linguistic Social. Reflexivity has been most intensively explored in studies of performance, [17] public events, [18] rituals, [19] and linguistic forms [20] but can be seen any time acts, things, or people are held up and commented upon or otherwise set apart for consideration. More broadly, reflexivity is considered to occur when the observations or actions of observers reflexjvity the social system affect the very situations they are observing, or theory ggeorge formulated is disseminated to and affects the behaviour of the individuals or systems the theory is meant to be objectively modelling.

London and Beverly Hills: The reflexive imperative in late modernity. University of Chicago Press. Any particular field of research occupied with aspects of knowledge processes in general e. As with the feminist and anti-colonial critiques that provide some of reflexive anthropology’s inspiration, the reflexive understanding of the academic and political power of representations, analysis of the process of “writing culture” has become a necessary part of understanding the situation of skros ethnographer in the fieldwork situation.


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Economic philosopher George Sorosinfluenced by ideas put forward by his tutor, Karl Popper[2] has been an active promoter of the relevance of reflexivity to economics, first propounding it publicly in his book The Alchemy of Finance. Reflexivity about the research process became an important part of the critique of the colonial roots [12] and scientistic methods of anthropology in the “writing cultures” [13] movement associated with James Clifford and George Marcusas well as many other anthropologists.

Thus for example an anthropologist living in an isolated village may affect the village and the behaviour of its citizens under study. Reflexivity was taken up as an issue in science in general by Karl Popperwho called it the ‘Oedipal effect’, and more comprehensively by Ernest Nagel Annual Review of Anthropology. Foucault argues that the concept of man emerged in the early 19th century, what he calls the “Age of Man”, with the philosophy of Immanuel Kant. Reflexivity includes both a subjective process of self-consciousness inquiry and the study of social behavior with reference to theories about social relationships.

Sociological terminology Sociological theories George Soros. This leads to the metaculture of conventions about managing and reflecting upon culture.

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The second kind of reflexivity studied by anthropologists involves varieties of self-reference in which people and reflexivlty practices call attention to themselves. Retrieved 12 October The Kenyon Review Vol. Tjeory, therefore, raises real issues regarding the extent to which the social sciences may ever be viewed as “hard” sciences analogous to classical physics, and raises questions about the nature of the social sciences.

They can play with, comment upon, debate, modify, and objectify culture through manipulating many different features in recognized ways.

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The observations are not independent of the participation of the observer. One use of studying reflexivity is in connection to authenticity. Symbolic types, mediation and the transformation of ritual context:

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