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.
Release on 2011-06-06 | by Renée A Fry,Warwick J McKibbin,Justin O'Brien
The Role of State Capital in the New Financial Order
Author: Renée A Fry,Warwick J McKibbin,Justin O'Brien
Pubpsher: World Scientific
Category: Business & Economics
As the first major collection of papers on sovereign wealth funds and state-owned enterprises, this book provides an essential guide to the geo-political impact of these pools of capital on global markets. The rise of sovereign wealth funds and state-owned enterprises represents a fundamental shift in market dynamics. The potential fusion of political and commercial imperatives raises unresolved geo-political questions that have been sharpened by the vaporization of credit markets as a consequence of the global financial crisis. State-controlled pools of capital have now eclipsed hedge funds and private equity in terms of funds under management, and the question of their regulation is therefore now of utmost importance. This book highlights the interplay between legal, corporate and policy imperatives associated with the regulation of state capital. Including contributions from leading practitioners, policymakers and academics, it provides an essential guide to professionals and academics in the fields of finance and business. Contents: Introduction:Sovereign Wealth Funds in an Evolving Global Financial System (Renée Fry, Warwick McKibbin & Justin O'Brien)Structure and Impacts on the Global Economy:What is a Sovereign Wealth Fund? (Stephen Grenville)Sovereign Wealth Funds and Global Capital Flows: A Macroeconomic Perspective (Julie Kozack, Doug Laxton & Krishna Srinivasan)A Portfolio Analysis of Sovereign Wealth Funds (Christopher Balding)The Implications of Sovereign Wealth Fund Investment on Capital Markets: A Bottom-Up View (David G Fernandez)Regulation and Public Policy Issues:The Political Economy of Sovereign Wealth Funds (Avinish Persaud)Open Capital Markets and Sovereign Wealth Funds, Pension Funds, and State-Owned Enterprises (Adrian Blundell-Wignall & Gert Wehinger)Negotiating a Voluntary Code (David Murray)Legal Implications:Mapping the Trajectory of the Regulatory Debate: Securing the National Interest or Justifying Protectionism? (Justin O'Brien)Australian Regulation of Investments by Sovereign Wealth Funds and State-Owned Enterprises (Greg Golding & Rachael Bassil)Conclusion:Sovereign Wealth Funds: What Have We Learned? (David Vines) Readership: Postgraduate students, researchers and professionals in the areas of international finance/trade and policy studies. Keywords:Sovereign Wealth Funds;State-Owned Enterprise;Capital Markets;Santiago Principles;Regulation of State CapitalKey Features:The first major collection on sovereign wealth funds and state-owned enterprise investmentsFeatures the latest research from both practitioners and academicsProvides an essential guide to the geopolitical impact of sovereign wealth funds and state-owned enterprise investments
Understanding the Dodd-Frank Act and Its (Unintended) Consequences
Author: David Skeel
Pubpsher: John Wiley & Sons
Category: Business & Economics
The good, the bad, and the scary of Washington's attempt to reform Wall Street The Dodd-Frank Wall Street Reform and Consumer Protection Act is Washington's response to America's call for a new regulatory framework for the twenty-first century. In The New Financial Deal, author David Skeel offers an in-depth look at the new financial reforms and questions whether they will bring more effective regulation of contemporary finance or simply cement the partnership between government and the largest banks. Details the goals of the legislation, and reveals that how they are handled could dangerously distort American finance, making it more politically charged, less vibrant, and further removed from basic rule of law principles Provides an inside account of the legislative process Outlines the key components of the new law To understand what American financial life is likely to look like in five, ten, or twenty years, and how regulators will respond to the next crisis, we need to understand Dodd-Frank. The New Financial Deal provides that understanding, breaking down both what Dodd-Frank says and what it all means.
How Today's Global Financial Crisis Happened, and what to Do about it
Author: Robert J. Shiller
Pubpsher: Princeton University Press
Category: Business & Economics
A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional foundations of the financial system in a thoughtful study by the author of Irrational Exuberance. First serial, The Atlantic.
What if the United States of America had a secret destiny that was known by only an enlightened few? Did any of the founding fathers belong to any secret societies? Why are there pagan gods and ancient symbols all over Washington, D.C.? Could any of this affect your life today? Over the last century, the United States of America has transformed itself from a sovereign nation into a global empire without borders. In Ameroca's New World Order: A Global Atlantis for the Age of Aquarius, author Chris Tyson uncovers the true purpose of America known over a century before 1776. By understanding our nation's hidden past, the future of America's relationship to the rest of the world becomes clear. The founding fathers chose this country's destiny over 250 years ago. Now, you must choose your eternal destiny, with or without God. Once you read this book, you will never see America in the same light. Chris Tyson received his bachelor's in criminology from the University of Florida. He has received training from the following agencies: the U.S. Department of Homeland Security, the Energetic Materials Research and Testing Center, the Federal Emergency Management Agency, the National Emergency Response and Rescue Training Center, and the Office of State and Local Government Coordination Preparedness. He was a past member of the American Society for Industrial Security. Visit www.AmerocasNewWorldOrder.com to purchase more copies of the book, to view updates on the globalist's agenda, and to contact the author.
In Financial Darwinism, author Leo Tilman lays the groundwork for understanding the new financial order by introducing his evolutionary thesis and then outlines an actionable decision-making framework that enables financial institutions and investors to fully leverage the power of business strategy, corporate finance, investment analysis, and risk management. Financial Darwinism is an invaluable road map to today's financial world and an essential guide to surviving and thriving during these challenging times.
This jargon-free resource explains the who, what, why, and where of contemporary personal finance in simple, easy-to-grasp language, covering the key people, events, terms, tools, policies, and products that make up modern money management. • Supplies accessible, comprehensive financial information that explains complex topics in simple language • Shows the relationship between personal finance and everyday life, from renting an apartment to saving for retirement • Answers a wide variety of personal finance questions • Provides a resource suitable for both personal and scholarly use
Release on 2014-05-20 | by Jorge Lozoya,A.K. Bhattacharya
Pergamon Policy Studies on The New International Economic Order
Author: Jorge Lozoya,A.K. Bhattacharya
Category: Business & Economics
The Financial Issues of the New International Economic Order discusses the establishment of the New International Economic Order (NIEO) in the monetary-financial area. Comprised of nine chapters, the book covers financial issues, such as monetary system, external debt, private bank, financing and capital markets, and petrodollars and collective reliance. Chapter 1 tackles the transfer of financial resource, while Chapter 2 discusses external disequilibrium in developing countries and the adjustment process. Chapter 3 deals with liquidity and international finance, and Chapter 4 covers the special drawing rights and development assistance. The fifth chapter discusses the trends of public external debt of developing countries, and the sixth chapter tackles the renegotiation of Third World debt and appropriate adjustments in international trade. Chapter 7 deals with financial aid and private banking institutions, while Chapter 8 covers the changing patterns in international liquidity and Eurocurrency multipliers. The last chapter discusses the use of OPEC funds for promoting collective self-reliance among developing countries. This book will be of great use to individuals who are interested in the financial issues faced by the NIEO.