Today the society can achieve a greater democratization of finance and stabilization for our economic lives through radical financial innovation. The author of the book presents ideas for a new financial order, a new financial capitalism, and a new economic infrastructure, and further describes how such ideas can realistically be developed and implemented.

It is known that all of us are exposed to a vast array of risks which may take place in the present, immediate future, near and far which warrants an innovative strategy to devise risk management ideas that reduce risks and at the same time inculcate more positive risk-taking behavior. We live in an era of enormous material wealth, but equally in great financial insecurity. The author Robert J Shiller has precisely recognized the need of the hour and presented through his book, The New Financial Order: Risk in the 21^st Century, an analysis of the expanding role of finance and insurance against the risks and public finance in future.

Shiller calls for a revolution in the management of risks, both individual and collective. Risk analysis has been a large part of this drive for innovation in finance, and is the subject of this book. The author proposes some `radical' innovations for risk management, which is fascinating to read. The book outlines a plan for reworking the alternative ways to control financial risk.

The author has structured the book into five parts with 18 chapters and put forward the innovative ways to use risk management as a tool to offset economic disparities and livelihood uncertainties and eventually. He dreams of building a more inspiring and happy world. He author describes a thoughtful and a detailed proposal for managing economic risks.

Treasury Management Magazine, New Financial Order, Risk Management, International Financial System, Information Technology, Global Markets, Decision-Making Process, Gross Domestic Product, GDP, International Agreements, Global Risk Information Databases, Social Security Systems.