[Lecture] Lord Adair Turner - Between Debt and the Devil: Money, Credit and Fixing Global Finance

Описание: In this lecture, Lord Adair Turner explains why debt is like pollution. Just as unregulated factories produce much pollution – since they benefit from increased production while someone else is left to clean up the mess – so, too, would banks issue as much debt as possible if left to their own devices. Adair Turner demolishes the arguments behind deregulating the financial industry, showing that most credit is not needed for economic growth, but rather drives real estate booms and busts, and leads to financial crises and depression. Public policy needs to manage the growth and allocation of credit creation, and debt needs to be taxed as a form of economic pollution. And while experts worry about fiat money – the erroneous notion that printing money leads to harmful inflation, Adair Turner shows how the long-term effects of governments taking on outsized private debts can be far more harmful to economies.

Click here for the Q&A sessions:    • [Q&A] Lord Adair Turner - Between Debt and...  

Click here to read a quick summary of the lecture: http://lkyspp.nus.edu.sg/event/betwee...

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Lord Adair Turner is Chairman of the Institute for New Economic Thinking. Previously he chaired the UK Financial Services Authority
(2008-2013) and played a leading role in the redesign of the global banking and shadow banking regulation as Chairman of the International Financial Stability Board’s major policy committee.

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