“Between Debt and the Devil”: Adair Turner sets the record straight on the causes of the financial crisis
Lord Adair Turner is one of the world’s most influential experts on global economic trends, finance, and macro prudential regulation. A brilliant speaker, his forthcoming book – “Between Debt and the Devil: Money, Credit, and Fixing Global Finance” (Princeton, October 2015) – presents a characteristically daring analysis of the realities behind the financial crisis, and how to prevent it from happening again.
“Between Debt and the Devil” 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. This eye opening book shows why we need to reject the assumption that private credit is essential to growth and fiat money is inevitably dangerous.
Adair was appointed Chairman of the UK’s Financial Services Authority just as the global financial crisis struck in 2008. In 2009 he produced the influential Turner Review, which recommended a thorough re-think of global banking regulation in response to the credit crunch and collapse of global banking liquidity.
He is now Senior Fellow at the Institute for New Economic Thinking – a think tank founded by George Soros – where he dedicates his time to answering the big questions facing macroeconomic policy-makers across the world.