Posted at October 21, 2016, by Raleigh Addington, Comments Off on Keynote Speakers | In the News (Oct 21st)
Happy Friday! In the news this week, our top keynote speakers are writing and making headlines in respected and international media. For booking enquiries, or more about these talented thought-leaders, send us a quick email for their speaking topics, expertise and latest availability. We’re here to help!
Here are the top stories we recommend this week:
Adair Turner speaks at Lendit conference on Marketplace Lending
The news reminded me of a Project Syndicate article from a few months ago by Lord (Adair) Turner, former Chairman of the FSA and now Senior Fellow at the Institute for New Economic Thinking, in which he correctly predicted that the BOJ’s turn to negative rates wouldn’t combat deflationary pressures:
“… it is increasingly clear that ultra-low short and long-term interest rates are not boosting nominal demand. Nor should that surprise us. Japan’s experience since 1990 teaches us that once companies feel overleveraged, pushing low interest rates still lower has little impact on their investment decisions. Cutting Japan’s ten-year yield from 0.2% to 0.1%, and Germany’s from 0.5% to 0.35% – the movements over the last week – just doesn’t make a significant difference to consumption and investment decisions in the real economy.
The BOJ’s announcement of a negative interest rate certainly did produce a currency depreciation. But a lower yen would help Japanese exporters only if China, the eurozone, and South Korea – all themselves struggling with deflationary pressures – do not match Japan’s rate cuts…” (Project Syndicate, February 5th 2016)
Posted at October 9, 2015, by Mackenzie Fant, Comments Off on Adair Turner on “Debt Déjà Vu”
Writing for Project Syndicate, Adair Turner, Chairman of the Institute of New Economic Thinking discusses debt, and the “failure to grasp the strength and global nature of the deflationary forces now shaping the economy.”
He explains that we are in a trap where debt burdens shift among sectors and countries, as a result of the debt used to fund real-estate investment and construction. In the United States and several European countries, excessive debt creation before 2008 was followed by efforts at private deleveraging, initially offset by large government budget deficits.
After a collapsing external demand in late 2008, Chinese growth and employment was threatened, resulting in the Chinese government unleashing a massive credit-fueled construction boom. Turner states, “Within China, the consequences for growth may be less dire than some commentators fear: a rapidly tightening labor market is boosting real wages; household consumption is growing strongly; and a buoyant services sector is helping to create ten million new jobs per year.” But for the rest of the world’s economy, the consequences of the slowdown in China’s construction and industrial sectors are profound, and the QE alone cannot stimulate enough demand in a world where other major economies are facing the same challenges.
Turner concludes, “Seven years after 2008, global leverage is higher than ever, and aggregate global demand is still insufficient to drive robust growth. More radical policies – such as major debt write-downs or increased fiscal deficits financed by permanent monetization – will be required to increase global demand, rather than simply shift it around.”
Posted at June 9, 2014, by Raleigh Addington, Comments Off on Economics speaker Adair Turner on the “Great Credit Mistake”
Writing recently for Project Syndicate,Lord Adair Turner, Senior Fellow at the Institute for New Economic Thinking, discusses the “great credit mistake” and warns that policy-makers who focus on credit supply constraints ignore the main impediment to growth.
Instead, Lord Turner makes the case that “once the immediate crisis was over, lack of demand for credit played a far larger role than restricted supply in impeding economic growth.” He notes that this argument is made persuasively in an important new book titled House of Debt by Atif Mian and Amir Sufi.
Through analysing US data on a county-by-county basis, Mian and Sufi show that the recession was caused by a collapse of household consumption, and that consumption fell most in those counties where pre-crisis borrowing and post-crisis real-estate prices left households facing the largest relative losses in net wealth.
Furthermore, Lord Turner points out that it was in those US counties, and similarly so in the UK, “that local businesses cut employment most aggressively. For SMEs, a shortage of customers, not a shortage of credit, constrained borrowing, employment, and output.”
Posted at February 24, 2014, by Raleigh Addington, Comments Off on Listen to Adair Turner, expert economics speaker, on the politics of finance
Tune into BBC Radio 4 to catch up with Adair Turner, Senior Fellow at the Institute for New Economic Thinking, who featured on the weekly discussion programme, Start the Week, which sets the cultural agenda every Monday.
Today, Adair focused on the politics of finance, arguing that structural reforms may be required to avoid future financial disasters. He explained that rather than these being purely governmental failures, banks should accept the majority of responsibility, partly because their trading activities are ‘socially useless.’
Click here for the full episode, which will be available from 21.30 this evening.
For more information, or to book Adair Turner as a keynote speaker for your conference or event, please contact Leo von Bülow-Quirk at firstname.lastname@example.org or call 0044 (0) 20 7792 8000.
Posted at February 19, 2014, by Raleigh Addington, Comments Off on Adair Turner on the future of the Chinese economy
Adair Turner, Senior Fellow at the Institute for New Economic Thinking and former Chairman of the FSA, delivered some fascinating insights on the future of the Chinese economy on Robert Peston’s BBC documentary “How China Fooled the World”. He traced the rapid rise of China’s shadow banking system and argued that, though you’d have to be brave to bet against China’s ability to manage problems, the sheer rapidity of credit growth in China since the financial crisis suggests a crash could be on its way.
You can listen to Adair’s 2014 global economic outlook below: