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Between Debt and the Devil:
Money, Credit, and Fixing Global Finance
Adair Turner

Book Description | Reviews
Introduction [in PDF format]


Acknowledgments ix
Preface: The Crisis I Didn't See Coming xi
Introduction: Too Important to Be Left to the Bankers 1
Part I Swollen Finance 17
1 The Utopia of Finance for All 19
2 Inefficient Financial Markets 34
Part II Dangerous Debt 49
3 Debt, Banks, and the Money They Create 51
4 Too Much of the Wrong Sort of Debt 61
5 Caught in the Debt Overhang Trap 74
6 Liberalization, Innovation, and the Credit Cycle on Steroids 88
7 Speculation, Inequality, and Unnecessary Credit 108
Part III Debt, Development, and Capital Flows 131
8 Debt and Development: The Merits and Dangers of Financial Repression 133
9 Too Much of the Wrong Sort of Capital Flow: Global and Eurozone Delusions 149
Part IV Fixing the System 161
10 Irrelevant Bankers in an Unstable System 163
11 Fixing Fundamentals 175
12 Abolishing Banks, Taxing Debt Pollution, and Encouraging Equity 186
13 Managing the Quantity and Mix of Debt 195
Part V Escaping the Debt Overhang 211
14 Monetary Finance--Breaking the Taboo 213
15 Between Debt and the Devil--A
Choice of Dangers 231
Epilogue: The Queen's Question and the Fatal Conceit 241
Notes 253
Bibliography 277
Index 289

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File created: 4/21/2017

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