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Between Debt and the Devil - Money, Credit, and Fixing Global Finance (Paperback, Revised edition) Loot Price: R261
Discovery Miles 2 610
You Save: R124 (32%)
Between Debt and the Devil - Money, Credit, and Fixing Global Finance (Paperback, Revised edition): Adair Turner

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Between Debt and the Devil - Money, Credit, and Fixing Global Finance (Paperback, Revised edition)

Adair Turner; Afterword by Adair Turner

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List price R385 Loot Price R261 Discovery Miles 2 610 You Save R124 (32%)

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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.

General

Imprint: Princeton University Press
Country of origin: United States
Release date: June 2017
First published: 2016
Authors: Adair Turner
Afterword by: Adair Turner
Dimensions: 203 x 127 x 23mm (L x W x T)
Format: Paperback
Pages: 314
Edition: Revised edition
ISBN-13: 978-0-691-17598-0
Languages: English
Subtitles: English
Categories: Books > Business & Economics > Economics
Books > Business & Economics > Finance & accounting
Books > Business & Economics > Economics > Macroeconomics
Books > Business & Economics > Economics > Economic systems
Books > Business & Economics > Economics > Financial crises & disasters
Books > Business & Economics > Finance & accounting > Finance
Books > Business & Economics > Economics > Macroeconomics > Monetary economics
Books > Business & Economics > Economics > Economic systems > General
Books > Business & Economics > Finance & accounting > Finance > Public finance
Books > Business & Economics > Finance & accounting > Finance > Credit & credit institutions
Books > Business & Economics > Finance & accounting > Finance > Public finance > General
Books > Money & Finance > Credit & credit institutions
Books > Money & Finance > Public finance
Books > Money & Finance > Public finance > General
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LSN: 0-691-17598-5
Barcode: 9780691175980

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