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Between Debt and the Devil by Adair Turner
£16.99
Available
Product Ref. (e.g. ISBN, SKU)
9780691175980
Published:
09 Jun 2017
Format:
Paperback
Number of pages:
320 pages
Dimensions:
203.2x127x21mm
Weight:
0.290kgs
Author:
Adair Turner challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth - but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution.
Why our addiction to debt caused the global financial crisis and is the root of our financial woes
Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn't happen because banks are too big to fail-our addiction to private debt is to blame.
Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth-but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money-the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money.
Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
About the Author: Adair Turner is chairman of the Institute for New Economic Thinking and the author of Economics after the Crisis.
| Number of pages | 320 |
|---|
We will despatch your order as quickly as we can. If, for whatever reason, a product is out of stock we will contact you to discuss the likely delivery time or an alternative product.
| First Item | 2 Items & Over | |
|---|---|---|
| UK | £3.75 | £5.00 |
| EU | £15.00 | £30.00 |
| USA & Canada | £30.00 | £50.00 |
| Rest of the World | £45.00 | £60.00 |
| Collect in Store | free | free |
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