Robert J. Shiller to Discuss “The New Financial Order” at Pace University Symposium, April 18

The Sixth Annual Henry George Symposium will be held at Pace University, April 18 at 6 p.m.

Contact Bill Caldwell, Office of Public Information, Pace University, 212-346-1597, wcaldwell@pace.edu

MEDIA ADVISORY

April 6, 2006

FROM REAL ESTATE AND DOT-COM BUBBLES TO A NEW FINANCIAL ORDER, ROBERT J. SHILLER TO SPEAK AT PACE UNIVERSITY APRIL 18

Economist exactly predicted onset of dot-com bust

WHAT: Sixth Annual Henry George Symposium at Pace University. Robert J. Shiller of Yale University, the economist and New York Times best-selling author who wrote the book “Irrational Exuberance,” which exactly predicted when the dot-com bust kicked in, and who in the just-published second edition predicts the popping of the real estate bubble, will be the sixth Henry George Symposium speaker at Pace University’s Lubin School of Business.

His topic will be “The New Financial Order: Risk Management in the Emerging Economies.”

Past Henry George symposia have drawn such distinguished – and controversial – economists as Joseph Stiglitz, Nobel Laureate in Economics and Professor of Economics and Finance at Columbia University; and William J. Baumol, noted Professor of Economics at New York University and Professor Emeritus at Princeton University.

WHEN: Tuesday, April 18, 6 PM

WHERE: Pace University Downtown Campus, Student Union, One Pace Plaza, New York City.
Open to the public. Media admission by press pass.

WHO: Shiller is the Stanley B. Resor Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and fellow at the International Center for Finance, Yale School of Management. He received his BA from the University of Michigan in 1967 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1972. He has written on financial markets, financial innovation, behavioral economics, macroeconomics, real estate, statistical methods, and on public attitudes, opinions, and moral judgments regarding markets.

His 1989 book Market Volatility (MIT Press) is a mathematical and behavioral analysis of price fluctuations in speculative markets. His 1993 book Macro Markets: Creating Institutions for Managing Society’s Largest Economic Risks (Oxford University Press) proposes a variety of new risk-management contracts, such as futures contracts in national incomes or in real estate that would permit the management of risks to standards of living. His book Irrational Exuberance (Princeton 2000, Broadway Books 2001, 2nd edition Princeton 2005, and in 15 foreign language editions) is an analysis and explication of speculative bubbles, with special reference to the stock market and real estate. His book The New Financial Order: Risk in the 21st Century (Princeton University Press, 2003, 2004, and in 8 foreign language editions) is an analysis of an expanding role of finance, insurance, and public finance in our future.

He has been research associate, National Bureau of Economic Research since 1980, and has been co-organizer of NBER workshops: on behavioral finance with Richard Thaler since 1991, and on macroeconomics and individual decision making with George Akerlof since 1994.

He serves as Vice President of the American Economic Association, 2005 and President of the Eastern Economic Association, 2005. He writes a column “Finance in the 21st Century” for Project Syndicate, which publishes around the world.

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