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 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.

作者：Adair Turner, Baron Turner of Ecchinswell

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.

主讲人：Dr. James H. Nolt, Adjunct Associate Professor, New York University in international relations and East Asian Studies.

he has been a Senior Fellow at the World Policy Institute for 20 years. He recently completed a book, International Political Economy: The Business of War and Peace, published by Routledge Press. His core research interest is the influence of business, especially finance, on international relations. He has also published a number of articles about the Chinese military and the East Asian military balance and is currently working on an article about the prospects of an economic crisis in China. Prof. Nolt recently lived in China for 7 years as founding campus dean of a joint venture college and later associate professor of management there. He has also taught at the New School University, graduate and undergraduate faculty, Seton Hall University, and Vanderbilt University. He has a PhD in political science from the University of Chicago and an MA in economics from the University of Massachusetts at Amherst.

活动时间：2016年4月3日

 活动地点: Fordham University 曼哈顿校区 （具体地址在微信报名后公布）