Between debt and the devil money credit and fixing global finance Turner 1400885655 9781400885657

Between debt and the devil money credit and fixing global finance Turner – Ebook Instant Download/Delivery ISBN(s): 1400885655,  9781400885657

Product details:

• ISBN 10: 1400885655
• ISBN 13: 9781400885657
• Author:  Turner

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.

Table of contents:

Part I: Swollen Finance
1: The Utopia of Finance for All
2: Inefficient Financial Markets
Part II: Dangerous Debt
3: Debt, Banks, and the Money They Create
4: Too Much of the Wrong Sort of Debt
5: Caught in the Debt Overhang Trap
6: Liberalization, Innovation, and the Credit Cycle on Steroids
7: Speculation, Inequality, and Unnecessary Credit
Part III: Debt, Development, and Capital Flows
8: Debt and Development: The Merits and Dangers of Financial Repression
9: Too Much of the Wrong Sort of Capital Flow: Global and Eurozone Delusions
Part IV: Fixing the System
10: Irrelevant Bankers in an Unstable System
11: Fixing Fundamentals
12: Abolishing Banks, Taxing Debt Pollution, and Encouraging Equity
13: Managing the Quantity and Mix of Debt
Part V: Escaping the Debt Overhang
14: Monetary Finance—Breaking the Taboo
15: Between Debt and the Devil—A Choice of Dangers

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