Lord Adair Turner discusses the shortcomings of inflation targeting, “too big to fail” fixes, and regulatory reform since the financial crisis.
Lord Adair Turner discusses the shortcomings of inflation targeting, “too big to fail” fixes, and regulatory reform since the financial crisis. Turner argues that excessive credit creation drives financial and macroeconomic instability and delivers answers of how to deal with it. In addition, Turner considers ways in which central banks, governments, and regulators must work together to escape the debt overhang that still depresses global economic growth.