The New Financial Order: Risk in the 21st Century

Overview

More than one million American children are schooled by their parents. As their ranks grow, home schoolers are making headlines by winning national spelling bees and excelling at elite universities. The few studies conducted suggest that homeschooled children are academically successful and remarkably well socialized. Yet we still know little about this alternative to one of society's most fundamental institutions. Beyond a vague notion of children reading around the kitchen table, we don't know what home schooling looks like from the inside.

Sociologist Mitchell Stevens goes behind the scenes of the homeschool movement and into the homes and meetings of home schoolers. What he finds are two very different kinds of home education--one rooted in the liberal alternative school movement of the 1960s and 1970s and one stemming from the Christian day school movement of the same era. Stevens explains how this dual history shapes the meaning and practice of home schooling today. In the process, he introduces us to an unlikely mix of parents (including fundamentalist Protestants, pagans, naturalists, and educational radicals) and notes the core values on which they agree: the sanctity of childhood and the primacy of family in the face of a highly competitive, bureaucratized society.

Kingdom of Children aptly places home schoolers within longer traditions of American social activism. It reveals that home schooling is not a random collection of individuals but an elaborate social movement with its own celebrities, networks, and characteristic lifeways. Stevens shows how home schoolers have built their philosophical and religious convictions into the practical structure of thecause, and documents the political consequences of their success at doing so.

Ultimately, the history of home schooling serves as a parable about the organizational strategies of the progressive left and the religious right since the 1960s.Kingdom of Children shows what happens when progressive ideals meet conventional politics, demonstrates the extraordinary political capacity of conservative Protestantism, and explains the subtle ways in which cultural sensibility shapes social movement outcomes more generally.

Editorial Reviews

Shiller is best known for arguing, as he did in Irrational Exuberance, that stock market movements do not reflect underlying economic reality and that the volatility of the market makes the financial system unstable. It is therefore a surprise to find him advocating vast expansion of financial derivative markets to reduce the economic risk faced by individuals and countries. According to Shiller, governments should swap 10% or more of their gross domestic product with other countries and administer income swaps among entire generations. Individuals should manage risk by trading in new financial instruments based on the lifetime income of their profession, the value of homes in their area or economic statistics like the unemployment rate or inflation rate. Money, he says, will be replaced by "indexed units of account" tied to things like wage rates and commodity prices. People will carry transponders to report on their every activity, with the results stored in "global risk information databases," containing all personal information, including genetic data but protected against unauthorized access. In this way, the government can eliminate the underground economy and tax evasion and individuals will enjoy more economic security. The author admits people don't think they want this additional security, but he advocates "psychological framing" to change their viewpoint. The book is certain to be controversial. Some will see a visionary, high-tech combination of the best of capitalism and socialism. Others will be reminded of Brave New World and 1984, with privacy, freedom and adventure traded for a totalitarian mediocrity founded on constant monitoring and propaganda.
Copyright 2003 Reed Business Information, Inc.

Author Information

Bio of Robert J. Shiller

Robert J. Shiller is the Stanley B. Resor Professor of Economics at Yale University. Also the author of the award-winning "Macro Markets" as well as "Market Volatility", he lives in New Haven, Connecticut. 010

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Additional Info

Imprint

Princeton University Press

Filesize

3.10 MB

Number of Pages

384

eBook ISBN

9781400825479