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.com 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.