Sunday, April 29, 2012

Eagerly Waiting to Read Robert Shiller's "Finance and the Good Society"

"Finance and the Good Society" authored by eminent finance academic Robert J.Shiller is out in the US. I am really eager to read this book and hope to grab a copy soon. As most of us know, Shiller is no ordinary finance don though he has been associated with the prestigious Yale University for long. He has been one of the most influential thinkers in the area of finance and perhaps one of the few who foresaw the housing bubble in the US that led to the current global crisis. Of course, his book "Irrational Exuberance" was seriously influential. It is difficult to comment on a new book without reading it. But I am reproducing two links one of which is an interview that I enjoyed reading and another is an excellent review. Clearly, in the new book Shiller is trying to laydown a guidemap and an agenda for the future and trying to reconcile some of the contradictions in capitalism that seem to have surfaced in the recent past. In many ways, we probably have another book like Raghuram Rajan's fabulous 2010 "Fault Lines" that has wonderfully helped us understand the real issues that led to the global crisis and what needs to be done ahead. Incidentally, Rajan was another one of the very few who saw the global crisis coming. Shiller  has surprised many in his new book with his stance on some popular issues such as high pay of finance executives that seem to have been caught the imagination of media and public in the US. I am not surprised though. In 2010, I had the privilege of interviewing  him (http://119.82.71.56/article.aspx?266301). Those 45 minutes must surely have been one of the best in my two decade journalistic career. During the interview the wonderfully mild-mannered scholar debunked one myth after the other (including the myth of India getting to have the so-called "demographic dividend"--he told me it was China which was getting it as it had people in the productive age group of around 35 years getting into the workforce whereas India had the demographic bulge around age 25). When I invited him to visit India, he told me how he had just attended a wedding of close family member who got married to an Indian girl. I am not sure whether I will ever get to meet Shiller but hopefully I will get to read his book soon. In the meanwhile, links like the one below will help.       

http://money.cnn.com/2012/04/10/pf/investing-Shiller.moneymag/index.htm

http://chronicle.com/article/Robert-Shillers-Mission-to/131456/

1 comment:

  1. Hi, it will be highly appreciated if you can suggest some good books on personal finance. It will surely add on to my subscription to OLM, reading your blog and going through OLM Digital. I would go so far as to suggest a regular feature in OLM regarding good finance and economics books.

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