Between Debt and the Devil
Princeton University Press (Verlag)
978-0-691-16964-4 (ISBN)
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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 assumptions 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.
Adair Turner is chairman of the Institute for New Economic Thinking and the author of Economics after the Crisis. He lives in London.
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 IVFixing 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 VEscaping 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
Zusatzinfo | 18 line illus. |
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Verlagsort | New Jersey |
Sprache | englisch |
Maße | 156 x 235 mm |
Gewicht | 567 g |
Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung |
Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie | |
ISBN-10 | 0-691-16964-0 / 0691169640 |
ISBN-13 | 978-0-691-16964-4 / 9780691169644 |
Zustand | Neuware |
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