George Soros: How open societies could overcome brutish, nasty nationalism OPINION
BERLIN — The fall of the Berlin Wall on the night of Nov. 8, 1989, dramatically and suddenly accelerated the collapse of communism in Europe. The end of travel restrictions between East and West Germany dealt a death blow to the closed society of the Soviet Union. By the same token, it marked a high point for the rise of open societies.
I became hooked on political philanthropy, and, as the Soviet empire collapsed, I established foundations in one country after another. My annual budget jumped from $3 million to $300 million in just a few years. Those were heady days. Open societies were in the ascendant and international cooperation was the dominant creed.
The Washington Consensus assumed that financial markets are capable of correcting their own excesses, and if they did not, central banks would take care of failing institutions by merging them into bigger ones. That was a false belief, as the global financial crisis of 2007-08 demonstrated. Threat of artificial intelligence The outlook for open societies is aggravated by the exceptionally rapid development of artificial intelligence. It can produce instruments of social control that can help repressive regimes but pose a mortal danger for open societies.
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