Debt, Growth and Sustainability—CUSP Lecture by Adair Turner
Launching our Lecture Series, Adair Turner gave a talk on #SustainableFinance. One of the most respected thinkers on financial reform and author of Between Debt and the Devil, Adair explored the financial innovations needed to deliver sustainability and avoid excessive credit growth. Audio and video recordings of the lecture are available below.
Prior to 2008, the dominant orthodoxy in academic economics was that more finance, and in particular higher credit as a percentage of GDP, was good for growth. But the crisis proved that assumption false: and there are good reasons for debating whether increased growth should always and in itself be the overwhelming objective. Adair Turner’s talk therefore considers how finance should serve ultimate human welfare and the challenges to desirable policy posed by excessive credit growth.
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Lord Turner became Chairman of the Institute for New Economic Thinking in April 2015, and was a Senior Fellow at INET from 2013-15, during which time he wrote his now published book Between Debt and the Devil – Money, Credit and Fixing global Finance (Princeton 2015). Prior to that he chaired the UK Financial Services Authority from 2008 until 2013, during which time he played a leading role in the redesign of the global banking and shadow banking regulation as Chairman of the International Financial Stability Board’s major policy committee.
