Financial Democracy and the New Financial Order
By Robert J. Shiller
Finance is a technology of great power. This power should serve the people, should be made available to everyone.
The financial crisis that began in 2007 as the result of the twin bubbles in the stock market and the housing
market shows that much more work needs to be done to democratize finance. The crisis occurred because the principles of
financial risk management were not being applied to the widest possible population.
This site offers information relating to democratizing innovations in finance, innovations that
are being made, likely will be made, or ought to be made in coming years and that
have the potential to make important improvements in the economy and our lives. Fundamental
innovations will help us to deal with major risks to our livelihoods, our homes,
our cities, and our nations, at a time of rapid change in the world economy. This site is
concerned not only with finance proper, but also with insurance, public finance, information
technology related to finance, behavioral finance, economic theory, psychology and history.
Important web sites that relate to financial innovation.
Books and papers about achieving financial
References to articles and research papers
that relate in one way or another to the process of financial democracy.
Overhead transparencies for a 1994 talk
about the book Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks,
Oxford University Press, 1993.
PowerPoint presentation for a 2003 talk
about the book The New Financial Order: Risk in the 21st Century, Princeton University Press, 2003.
PowerPoint presentation for a 2008 talk
about the book Subprime Solution: How Today's Global Financial Crisis Happened and What to Do about It,
Princeton University Press 2008.
Links to courses related to the future of finance.
Home Page at Yale University of Prof. Robert J. Shiller