Economist Robert Shiller’s Openyear Interview
January 9, 2009 by Openyear
Filed under Sharing Economy
Journalist Mitch Ratcliffe spoke with economist Robert Shiller in an Openyear sponsored interview on some of his ideas put forth in his seminal book,The New Financial Order. In it, he says that finance should serve people directly to help reduce their risks, not just remain a tool of business.
He foresaw the internet and housing bubbles first, and coined the term irrational exuberance. He has proposed innovative tax policy to help reduce US inequality.
Here is some of what he and Mitch discussed.
Humans are the most important part of the economy.
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Livelihood Insurance is extremely important to our development.
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Unions should think creatively about uncertainty and find risk solutions.
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People will share their future upside income for support early on.
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We haven’t allowed human capital to be risk managed as financial capital has. It needs to be democratized.
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