In October 2011, the European Court of Human Rights ruled that George Soros had violated insider trading laws more than two decades ago in dealings with the French bank Société Générale. Soros has given billions of his personal wealth to fund liberal political organisations, notably his own Open Society Foundations, which operate on a global scale and have supported anti-totalitarian movements from Poland’s Solidarity to Zimbabwe’s Movement for Democratic Change, as well as countless other organisations that promote human rights. He has promised to give $100 million to Human Rights Watch over the next ten years. The decision of the European Court, however, brings Soros to book for the nastier things he does when he’s not being a philanthropist. His teacher and mentor, Karl Popper, might have seen this as an example of the paradox of unintended consequences. Soros’s actions also illustrate one of the central puzzles of Popper’s liberalism. Like Soros, Popper wanted to have it both ways: he wanted to unify the humanitarian left while celebrating the openness of the free market, with all its imbalances. Did he succeed?

LRB 26 April 2012 | PDF Download