Between Debt and the Devil: Money, Credit, and Fixing Global Finance
| Author | : | |
| Rating | : | 4.67 (861 Votes) |
| Asin | : | B01NAGE66H |
| Format Type | : | |
| Number of Pages | : | 498 Pages |
| Publish Date | : | 2015-08-31 |
| Language | : | English |
DESCRIPTION:
Interesting perspectives on how to fix modern finance with a focus on the negative spillovers of credit creation Between the Debt and the Devil takes a fresh approach to the issues facing our modern economy. Adair Turner became chairman of the FSA in the UK right at the beginning of the financial crisis and has direct experience with the crisis and radical perspectives on the solutions. The financial crisis is sti. Broadly right, but you've heard most of it before Eric Lonergan Too many books have now been written on the causes and consequences of the 2008 financial crisis. Do we really need another? Most of the ground Adair Turner covers has already received exhaustive treatment in Martin Wolf’s The Shifts and the Shocks. Turner’s view is very familiar: the financ. An interesting point of view D. Ginn Turner's main point, as I understand it, is that it is insufficient to focus merely on the unemployment rate, economic growth and inflation in order to monitor economic health. Private debt levels, and what use that debt is being put to, matter greatly. An interesting point of view, though political rea
It is well and clearly written and supported by good, non-technical analysis and empirical evidence."--Charles Goodhart, Financial World"These provocative and insightful arguments are particularly valuable at a time when austerity retains its intellectual luster despite its manifest failures."--Andrew Moravcsik, Foreign Affairs"Turner's book should make policymakers and commentators sit up and take notice."--TT Ram Mohan, Economic & Political Weekly"This seminal book details an important reality of today’s economy: generating enough demand to absorb potential supply depends on explosive increases in indebtedness–private or public, or both."--Martin Wolf, Financial T
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. 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. 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 fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Each has its advantages, and each creates risks that public policy must consciously balance.. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. In this eye-opening book, he
. Adair Turner is chairman of the Institute for New Economic Thinking and the author of Economics after the Crisis