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S.T. Lee Distinguished Lecture

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

Lecture


Q&A 


‘Between Debt and the Devil’ explains why debt is like pollution. Just as unregulated factories produce much pollution – since they benefit from increased production while someone else is left to clean up the mess – so, too, would banks issue as much debt as possible if left to their own devices. Adair Turner demolishes the arguments behind deregulating the financial industry, showing that most credit is not needed for economic growth, but rather drives real estate booms and busts, and leads to financial crises and depression. Public policy needs to manage the growth and allocation of credit creation, and debt needs to be taxed as a form of economic pollution. And while experts worry about fiat money – the erroneous notion that printing money leads to harmful inflation, Adair Turner shows how the long-term effects of governments taking on outsized private debts can be far more harmful to economies.

Auditorium,
Block B, Level 3,
NUS Bukit Timah Campus,
469G Bukit Timah Road,
Singapore 259776
Mon 25 January 2016
05:15 PM - 06:30 PM

Lord Adair Turner

Lord Adair Turner

Chairman, Institute for New Economic Thinking

Seats are limited and will be available on a first-come, first-served basis.

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