Shiller thinks housing derivatives could help speculators prick future bubbles.
Economist Robert Shiller has a new book out. You'll be thrilled to learn that it doesn't contain any warnings about a looming market crash. Well, unless you count that bit about the "train of catastrophes" that might ensue if current efforts to stabilize the financial system fail. But that's not really a prediction.
Considering the Yale professor's recent publishing history, this is quite a relief. In March 2000, as stock prices soared to record levels, Shiller released his first general-audience book. Titled Irrational Exuberance, a phrase borrowed from a 1996 Alan Greenspan speech, it made the case that stock-market investors tend...
