situations, and/or tolerance for risk. The same would be true here. We just might be witnessing a revolutionary breakthrough in the way our society is capable of working, and how brand new markets can work as well. Our economy, and those of other countries, would be greatly improved.

Just like we forged forward in pre-history when we figured out how to supply shelter, food, and protection from wild animals and other similarly wild humans, we ha

Robert Shiller, is the author of the runaway bestseller, Irrational Exuberance. Shiller has recently written another book, The New Financial Order. This is a scary one, since it follows the path of “globalization” and how it is threatening the livelihoods and assets of the ordinary person on the street. Schiller has come up with a unique idea for “hedging insurance financial risk” as in the case of being able to protect yourself if the value of your residence drops (this is your primary asset these days, along with the money you earn at a j.o.b., or being self-employed). You find yourself trying to make mortgage payments on a property worth less than what you originally paid for it. (It happened to me, thanks to the savings and loan debacle in Texas, in the late 80s.)

What if the ability to buy this kind of “hedge insurance” was available as an employee benefit? Envision how loyal you might be to that employer. Further imagine if you no longer have to worry constantly about paying the mortgage; or whether you’re going to be downsized any day. You likely wouldn’t mind paying a bit more for some better medical insurance too, am I right? If you don’t have the worry about the first two potential catastrophes, you wouldn’t mind paying extra for that health and medical insurance that perhaps you -- and the more than 40% of all Americans -- don’t yet have for their protection.

I think this could be facilitated by the buying and selling of risk-oriented insurance hedges in a new form of market: the insurance “hedge” market. This would be similar to a stock market, mercantile or agriculture futures market that works to offer a “platform” on which two sides can meet to negotiate (in nano seconds these days) to buy or sell, depending on their own business situations, and/or tolerance for risk. The same would be true here. We just might be witnessing a revolutionary breakthrough in the way our society is capable of working, and how brand new markets can work as well. Our economy, and those of other countries, would be greatly improved.

Just like we forged forward in pre-history when we figured out how to supply shelter, food, and protection from wild animals and other similarly wild humans, we hav

yourself if the value of your residence drops (this is your primary asset these days, along with the money you earn at a j.o.b., or being self-employed). You find yourself trying to make mortgage payments on a property worth less than what you originally paid for it. (It happened to me, thanks to the savings and loan debacle in Texas, in the late 80s.)

What if the ability to buy this kind of “hedge insurance” was available as an employee benefit? Envision how loyal you might be to that employer. Further imagine if you no longer have to worry constantly about paying the mortgage; or whether you’re going to be downsized any day. You likely wouldn’t mind paying a bit more for some better medical insurance too, am I right? If you don’t have the worry about the first two potential catastrophes, you wouldn’t mind paying extra for that health and medical insurance that perhaps you -- and the more than 40% of all Americans -- don’t yet have for their protection.

I think this could be facilitated by the buying and selling of risk-oriented insurance hedges in a new form of market: the insurance “hedge” market. This would be similar to a stock market, mercantile or agriculture futures market that works to offer a “platform” on which two sides can meet to negotiate (in nano seconds these days) to buy or sell, depending on their own business situations, and/or tolerance for risk. The same would be true here. We just might be witnessing a revolutionary breakthrough in the way our society is capable of working, and how brand new markets can work as well. Our economy, and those of other countries, would be greatly improved.

Just like we forged forward in pre-history when we figured out how to supply shelter, food, and protection from wild animals and other similarly wild humans, we ha

it? Envision how loyal you might be to that employer. Further imagine if you no longer have to worry constantly about paying the mortgage; or whether you’re going to be downsized any day. You likely wouldn’t mind paying a bit more for some better medical insurance too, am I right? If you don’t have the worry about the first two potential catastrophes, you wouldn’t mind paying extra for that health and medical insurance that perhaps you -- and the more than 40% of all Americans -- don’t yet have for their protection.

I think this could be facilitated by the buying and selling of risk-oriented insurance hedges in a new form of market: the insurance “hedge” market. This would be similar to a stock market, mercantile or agriculture futures market that works to offer a “platform” on which two sides can meet to negotiate (in nano seconds these days) to buy or sell, depending on their own business situations, and/or tolerance for risk. The same would be true here. We just might be witnessing a revolutionary breakthrough in the way our society is capable of working, and how brand new markets can work as well. Our economy, and those of other countries, would be greatly improved.

Just like we forged forward in pre-history when we figured out how to supply shelter, food, and protection from wild animals and other similarly wild humans, we ha

than 40% of all Americans -- don’t yet have for their protection.

I think this could be facilitated by the buying and selling of risk-oriented insurance hedges in a new form of market: the insurance “hedge” market. This would be similar to a stock market, mercantile or agriculture futures market that works to offer a “platform” on which two sides can meet to negotiate (in nano seconds these days) to buy or sell, depending on their own business situations, and/or tolerance for risk. The same would be true here. We just might be witnessing a revolutionary breakthrough in the way our society is capable of working, and how brand new markets can work as well. Our economy, and those of other countries, would be greatly improved.

Just like we forged forward in pre-history when we figured out how to supply shelter, food, and protection from wild animals and other similarly wild humans, we ha

situations, and/or tolerance for risk. The same would be true here. We just might be witnessing a revolutionary breakthrough in the way our society is capable of working, and how brand new markets can work as well. Our economy, and those of other countries, would be greatly improved.

Just like we forged forward in pre-history when we figured out how to supply shelter, food, and protection from wild animals and other similarly wild humans, we have an opportunity here to eliminate those primordial fears that hold us all back; delay the inventions, entrepreneurialism, innovations, and efficient market management that can accrue from this new way of doing things. Once we had shelter, and learned that crops being grown would supply most of our food needs; this meant that we no longer had to forage for food each day; we could store excess food. We no longer had to be nomads. We were able to settle down in one or two spots. We could build and own a house in one place. We started the Agrarian revolution. Next was the Industrial revolution. We are now in the Digital or Knowledge revolution.

Marketing is not just about selling things or ideas to other people. The original word “market” comes to mind. It was a place where interested buyers (who had an unfulfilled need) and sellers (who had the ‘answer’ or the method to fill that need) communicated with each other. Next, they met (physically, or on the telephone, fax, videophone, or email), discussed, negotiated, arranged terms, agreed on delivery of the goods/services, then handled and delivered them. They then stood behind their products or services with warranties and guarantees after the sale. The act of doing this within a specific “market” became known as “marketing.”

The World Wide Web and the digital revolution are truly amazing. Every day it offers a new and unique opportunity for enterprising individuals to get out there and make it happen to the benefit of all of us. This revolution sure is fun to be around!

© Copyright, Roy W. MacNaughton, 2006