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The New Financial Order
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The New Financial Order

Risk in the Twenty-First Century

Robert J. Shiller
Princeton UP, 2003

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Editorial Rating

10
getAbstract International Book Award Winner 2003

Qualities

  • Innovative
  • Applicable

Recommendation

Economist Robert Shiller became a household name when he published his previous bestseller Irrational Exuberance just as the dot.com boom was peaking. In The New Financial Order, he capitalizes on his celebrity to put forward a thoughtful, detailed proposal for managing economic risks. This highly readable book portrays a future in which many serious individual financial risks are dispersed to savvy global investors, thanks to technology. Imagine violinists being able to insure their careers in addition to their Stradivarius instruments, developing countries securing generous loans from the first world by tying the repayment schedules to their future GDPs and a revamped tax system preventing the gap between rich and poor from widening. getAbstract suggests this book to risk-management professionals who want to step back and look at the big picture, as well as to anyone who has a stake in creating new financial products to meet twenty-first century needs.

Take-Aways

  • Major economic risks are hidden because they accrue slowly or are perceived as minor.
  • Advances in information technology can help distribute these risks, if global electronic databases can access information about individuals, transactions and trends.
  • The language used to describe financial innovations can have a major impact on whether the public accepts them or not.

About the Author

Robert J. Shiller is the Stanley B. Resor Professor of Economics at Yale University. He is the author of Macro Markets, which won the first annual Paul A. Samuelson Award of TIAA-CREF, and Irrational Exuberance, which was a New York Times bestseller.

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    Ð. Ð. 9 years ago
    You can be translated into Russian ?
    • Avatar
      9 years ago
      Уважаемый читатель,
      Эта книга была написана более 10 лет назад. Предлагаем Вам изложения на русском языке других более свежих книг Роберта Шиллера:

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      - Финансы и справедливое общество

      Русская редакция getAbstract