More by the Same Author
2012-05-22 My Speech to the Finance Graduates by Robert J. Shiller of Project Syndicate
At this time of year, at graduation ceremonies in America and elsewhere, those about to leave university often hear some final words of advice before receiving their diplomas. For those contemplating a career in finance or related careers in insurance, accounting, auditing, law, or corporate management the message is simple: the world needs you to reinvent the industry.
2011-11-21 The Neuroeconomics Revolution by Robert J. Shiller of Project Syndicate
Economics is at the start of a revolution that is traceable to an unexpected source: medical schools and their research facilities. Neuroscience the science of how the brain, that physical organ inside ones head, really works is beginning to change the way we think about how people make decisions. These findings will inevitably change the way we think about how economies function. In short, we are at the dawn of neuroeconomics. Efforts to link neuroscience to economics have occurred mostly in just the last few years, and the growth of neuroeconomics is still in its early stages.
2011-09-23 The Great Debt Scare by Robert J. Shiller of Project Syndicate
Most confidence indices today are based on survey questions that ask respondents to assess the economy today or in the near future. But what today's debt fears in Europe and the US really reflect and what is holding back consumption and investment is widespread anxiety about long-term economic prospects.
2011-07-21 Debt and Delusion by Robert J. Shiller of Project Syndicate
The problem that much of the world faces today is that investors are overreacting to debt-to-GDP ratios and demanding fiscal-austerity programs too soon. They are asking governments to cut expenditure while their economies are still vulnerable. Households are running scared, so they cut expenditures as well, and businesses are being dissuaded from borrowing to finance capital expenditures. The lesson is simple: We should worry less about debt ratios and thresholds, and more about our inability to see these indicators for the artificial and often irrelevant constructs that they are.