000			04237cam a2200541 i 4500
001			18736827
003			BJBSDDR
005			20260302152725.0
007			ta
008			150810s2016 njua b 001 0 eng
010			_a 2015015015
020			_a9780691169644 (hardback : alk. paper)
020			_a0691169640 (hardback : alk. paper)
035			_a18736827
040			_aDLC _beng _cDLC _erda _dDLC
041			_aeng
042			_apcc
050	1	4	_aHG 3881 _bT944b 2016
082	0	0	_a332/.042
100	1		_aTurner, Adair, _d1955- _943493
245	1	0	_aBetween debt and the devil : _bmoney, credit, and fixing global finance / _cAdair Turner.
264		1	_aPrinceton : _bPrinceton University Press, _c2016.
300			_axiv, 302 pages : _billustrations ; _c25 cm.
336			_atext _2rdacontent
337			_aunmediated _2rdamedia
338			_avolume _2rdacarrier
504			_aIncludes bibliographical references and index.
505	0		_aPart I. Swollen finance Part II. Dangerous debt Part III. Debt, development, and capital flows Part IV. Fixing the system Part V. Excaping the debt overhang. 1. The Utopia of finance for all 2. Inefficient financial markets 3. Debt, banks, and the money they create 4. Too much of the wrong sort of debt 5. Caught in the debt overhang trap 6. Liberalization, innovation, and the credit cycle on steroids 7. Speculation, inequality, and unnecessary credit 8. Debt and development: the merits and dangers of financial repression 9. Too much of the wrong sort of capital flow: global and eurozone delusions 10. Irrelevant bankers in an unstable system 11. Fixing fundamentals 12. Abolishing banks, taxing debt pollution, and encouraging equity 13. Managing the quantity and mix of debt 14. Monetary finance breaking the taboo 15. Between debt and the devil a choice of dangers Epilogue: the queen's question and the fatal conceit
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 assumption 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. "-- _cProvided by publisher.
650		0	_aInternational finance.
650		4	_aFinanzas internacionales _92107
650		0	_aFinance.
650		4	_aFinanzas _91651
650		0	_aFinancial institutions.
650		4	_aInstituciones financieras _96508
650		0	_aCredit.
650		4	_aCrédito _97440
650		0	_aFinancial crises.
650		4	_aCrisis financiera _91782
650		0	_aMonetary policy.
650		4	_aPolítica monetaria _91653
650		0	_aEconomic policy.
650		4	_aPolítica económica _9309
906			_a7 _bcbc _corignew _d1 _eecip _f20 _gy-gencatlg
942			_2lcc _cBK
946			_idpf
999			_c126350 _d126350