Between Debt and the Devil: Money, Credit, and Fixing Global Finance
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’...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Princeton, NJ
Princeton University Press
[2017]
|
| Ausgabe: | With a new afterword by the author |
| Schlagworte: | |
| Online-Zugang: | FAW01 FHA01 FKE01 FLA01 UPA01 FAB01 FCO01 URL des Erstveröffentlichers |
| Zusammenfassung: | 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 |
| Beschreibung: | Description based on online resource; title from PDF title page (publisher's Web site, viewed 12. Jul 2017) |
| Beschreibung: | 1 online resource 19 line illus |
| ISBN: | 9781400885657 |
| DOI: | 10.1515/9781400885657 |
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| 520 | |a 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 | ||
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Datensatz im Suchindex
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| any_adam_object | |
| author | Turner, Adair |
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| author_sort | Turner, Adair |
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| dewey-full | 332/.042 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332/.042 |
| dewey-search | 332/.042 |
| dewey-sort | 3332 242 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1515/9781400885657 |
| edition | With a new afterword by the author |
| format | Electronic eBook |
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| spelling | Turner, Adair Verfasser aut Between Debt and the Devil Money, Credit, and Fixing Global Finance Adair Turner With a new afterword by the author Princeton, NJ Princeton University Press [2017] © 2017 1 online resource 19 line illus txt rdacontent c rdamedia cr rdacarrier Description based on online resource; title from PDF title page (publisher's Web site, viewed 12. Jul 2017) 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 In English Credit Finance Financial institutions International finance Schulden (DE-588)4053461-3 gnd rswk-swf Inflation (DE-588)4026887-1 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf Geldmengenpolitik (DE-588)4132736-6 gnd rswk-swf Finanzkrise (DE-588)7635855-0 s Schulden (DE-588)4053461-3 s Inflation (DE-588)4026887-1 s Geldmengenpolitik (DE-588)4132736-6 s 1\p DE-604 https://doi.org/10.1515/9781400885657 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Turner, Adair Between Debt and the Devil Money, Credit, and Fixing Global Finance Credit Finance Financial institutions International finance Schulden (DE-588)4053461-3 gnd Inflation (DE-588)4026887-1 gnd Finanzkrise (DE-588)7635855-0 gnd Geldmengenpolitik (DE-588)4132736-6 gnd |
| subject_GND | (DE-588)4053461-3 (DE-588)4026887-1 (DE-588)7635855-0 (DE-588)4132736-6 |
| title | Between Debt and the Devil Money, Credit, and Fixing Global Finance |
| title_auth | Between Debt and the Devil Money, Credit, and Fixing Global Finance |
| title_exact_search | Between Debt and the Devil Money, Credit, and Fixing Global Finance |
| title_full | Between Debt and the Devil Money, Credit, and Fixing Global Finance Adair Turner |
| title_fullStr | Between Debt and the Devil Money, Credit, and Fixing Global Finance Adair Turner |
| title_full_unstemmed | Between Debt and the Devil Money, Credit, and Fixing Global Finance Adair Turner |
| title_short | Between Debt and the Devil |
| title_sort | between debt and the devil money credit and fixing global finance |
| title_sub | Money, Credit, and Fixing Global Finance |
| topic | Credit Finance Financial institutions International finance Schulden (DE-588)4053461-3 gnd Inflation (DE-588)4026887-1 gnd Finanzkrise (DE-588)7635855-0 gnd Geldmengenpolitik (DE-588)4132736-6 gnd |
| topic_facet | Credit Finance Financial institutions International finance Schulden Inflation Finanzkrise Geldmengenpolitik |
| url | https://doi.org/10.1515/9781400885657 |
| work_keys_str_mv | AT turneradair betweendebtandthedevilmoneycreditandfixingglobalfinance |