"Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't underestimate the value of that, but they're not designed to take care of social needs"
About this Quote
The subtext is an argument against the lazy belief that aggregate self-interest automatically becomes social good. Soros is pointing at a design feature, not a glitch. Profit is a powerful signal, but it only lights up where someone can pay. Social needs (clean air, stable democracies, public health, dignified work) often lack a buyer with enough money, a clear price, or a short time horizon. So the market "works" while the society frays, and the result can still be an efficient catastrophe.
Context matters: Soros made his fortune by navigating and exploiting market dynamics; he also became a prominent funder of liberal civil society projects. That biography sharpens the intent. He isn't confessing guilt so much as issuing a systems diagnosis: if you want markets to serve ends they weren't built for, you need institutions that do have that job description - regulation, taxation, public investment, and norms that treat social cohesion as more than an externality. The line reads as both defense and warning: celebrate the machine, but stop asking it to be a moral philosophy.
Quote Details
| Topic | Justice |
|---|---|
| Source | Verified source: Interview at the State of the World Forum (George Soros, 2000)
Evidence: Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't under-estimate the value of that, but they're not designed to take care of social needs.. This wording appears inside an interview transcript attributed to Mark Schapiro conducted during the State of the World Forum (the text says: “He spoke to us on the fourth day of the State of the World Forum.”). The excerpt places the quote in context right after Soros says: “I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.” The quote is widely repeated online with attributions like “Interview with Mark Schapiro (September 5, 2000)” and sometimes “State of the World Forum interview, September 2000,” but in my web search I could not locate an authoritative primary publication page (e.g., State of the World Forum site archive, an original magazine/newspaper publication, or an official transcript hosted by Soros/OSF) that would allow verification of the FIRST publication/speaking beyond this reposted transcript. Because PDFCoffee is a third-party repost, this is strong evidence for the interview context/date, but not definitive proof of first publication. Other candidates (1) Stock Markets, Investments and Corporate Behavior (Michael DEMPSEY, 2015) compilation100.0% ... Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a g... |
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Citation Formats
APA Style (7th ed.)
Soros, George. (2026, February 25). Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't underestimate the value of that, but they're not designed to take care of social needs. FixQuotes. https://fixquotes.com/quotes/markets-are-designed-to-allow-individuals-to-look-54502/
Chicago Style
Soros, George. "Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't underestimate the value of that, but they're not designed to take care of social needs." FixQuotes. February 25, 2026. https://fixquotes.com/quotes/markets-are-designed-to-allow-individuals-to-look-54502/.
MLA Style (9th ed.)
"Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't underestimate the value of that, but they're not designed to take care of social needs." FixQuotes, 25 Feb. 2026, https://fixquotes.com/quotes/markets-are-designed-to-allow-individuals-to-look-54502/. Accessed 11 Mar. 2026.





