Robert Shiller, teaching Yale's Financial Markets course, argues that financial innovation deserves the same respect given to technological invention, since both aim at managing large and important risks. He opens with a review of probability theory and the central limit theorem before turning to his framing and device themes for understanding financial inventions. Examples include limited liability for corporations, China's Township and Village Enterprises, and inflation indexation from its origins around 1800 through its use in twentieth century Chile and Mexico. The lecture closes with swap contracts and their descendant, the credit default swap. Shiller treats each invention as a device that requires learning and refinement over time, framing finance less as speculation and more as social technology built to distribute risk.