The Resource Between debt and the devil : money, credit, and fixing global finance, Adair Turner

Between debt and the devil : money, credit, and fixing global finance, Adair Turner

Label
Between debt and the devil : money, credit, and fixing global finance
Title
Between debt and the devil
Title remainder
money, credit, and fixing global finance
Statement of responsibility
Adair Turner
Creator
Author
Subject
Genre
Language
eng
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. "--
Summary
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. 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
Tone
Writing style
http://library.link/vocab/ext/novelist/bookUI
10455720
Cataloging source
DLC
http://library.link/vocab/creatorName
Turner, Adair
Dewey number
332/.042
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/resourcePreferred
True
http://library.link/vocab/subjectName
  • International finance
  • Finance
  • Financial institutions
  • Credit
  • Financial crises
  • Monetary policy
  • Economic policy
Target audience
adult
http://bibfra.me/vocab/lite/titleRemainder
money, credit, and fixing global finance
Label
Between debt and the devil : money, credit, and fixing global finance, Adair Turner
Instantiates
Publication
Copyright
Bibliography note
Includes bibliographical references (pages 277-288) and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Dimensions
25 cm.
Extent
xiv, 302 pages
Isbn
9780691169644
Isbn Type
(hbk.)
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
Specific material designation
regular print
Label
Between debt and the devil : money, credit, and fixing global finance, Adair Turner
Publication
Copyright
Bibliography note
Includes bibliographical references (pages 277-288) and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Dimensions
25 cm.
Extent
xiv, 302 pages
Isbn
9780691169644
Isbn Type
(hbk.)
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
Specific material designation
regular print

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