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Also by Robert J. Shiller:

Reforming U.S. Financial Markets, January 2011
Hardcover
Animal Spirits, February 2009
Hardcover
The Subprime Solution, September 2008
Hardcover
Irrational Exuberance, May 2006
Trade Size (reprint)
Irrational Exuberance, March 2005
Hardcover
The New Financial Order, July 2004
Paperback

THE NEW FINANCIAL ORDER
By: Robert J. Shiller

Risk in the 21st Century

Princeton University Press
July 2004
On Sale: July 6, 2004
384 pages
ISBN: 0691120110
EAN: 9780691120119
Paperback
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Non-Fiction

In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future.

Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition.

Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.

Media Buzz

Diane Rehm Show - NPR - September 16, 2008
Diane Rehm Show - NPR - November 1, 2006