Between debt and the devil : money, credit, and fixing global finance [2016]
In Research Room
Book-L.jpg)
General Information
Original Title
Between debt and the devil : money, credit, and fixing global finance / Adair Turner.
General Information
Language
English
General Information
Published
Princeton ; Oxford : Princeton University Press, 2016.
General Information
Physical Description
xiv, 302 pages : illustrations ; 25 cm
Contents Summary
"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 assumption 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. "--
Subjects
Subject Terms
International finance.
Finance.
Financial institutions.
Credit.
Financial crises.
Monetary policy.
Economic policy.
Bibliographic Information
Library Special Collection
Bibliographic Information
ISBN
9780691169644 (hardback : alk. paper)
0691169640 (hardback : alk. paper)
Holdings
| Item Type | Current Location | Collection | Call Number | Volume Info | Shelving Location | Public Note |
|---|---|---|---|---|---|---|
| Book | OSA Archivum Library | General collection | 332/.042 TUR | - | OSA Repository | - |
Between debt and the devil : money, credit, and fixing global finance [2016]
In Research Room
BookGeneral Information
Author
Turner, Adair, 1955-
General Information
Original Title
Between debt and the devil : money, credit, and fixing global finance / Adair Turner.
General Information
Language
English
General Information
Published
Princeton ; Oxford : Princeton University Press, 2016.
General Information
Physical Description
xiv, 302 pages : illustrations ; 25 cm
Contents Summary
"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 assumption 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. "--
Subjects
Subject Terms
International finance.
Finance.
Financial institutions.
Credit.
Financial crises.
Monetary policy.
Economic policy.
Bibliographic Information
Library Special Collection
Bibliographic Information
ISBN
9780691169644 (hardback : alk. paper)
0691169640 (hardback : alk. paper)
Holdings
Book - 332/.042 TUR
Item Type
Book
Current Location
OSA Archivum Library
Current Location
OSA Archivum Library
Call Number
332/.042 TUR
Volume Info
-
Shelving Location
-
Public Note
-