The New Financial Order

Risk in the 21st Century

Robert J. Shiller

366 pages, parution le 01/09/2004

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Résumé

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.

L'auteur - Robert J. Shiller

Robert Shiller, prix Nobel d'économie 2013, est professeur d'économie et de finance à Yale.

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Sommaire

Economic Risks in an Advancing World
How Science and Technology Create New Opportunities in Finance
Six Ideas for a New Financial Order
Deploying the New Financial Order
The New Financial Order as a Continuation of a Historical Process

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Princeton University Press
Auteur(s)	Robert J. Shiller
Parution	01/09/2004
Nb. de pages	366
Format	15 x 22,5
Couverture	Broché
Poids	525g
Intérieur	Noir et Blanc
EAN13	9780691120119
ISBN13	978-0-691-12011-9