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

Abstract

Between Debt and the Devil examines the role of debt and credit in modern financial systems and their connection to economic instability and financial crises. Adair Turner argues that excessive reliance on private credit creation has led to unsustainable debt levels and recurring financial instability. The book critiques conventional economic thinking and explores alternative approaches, including the role of central banks and monetary financing, to achieve stable and sustainable economic growth. Turner proposes reforms to the global financial system aimed at reducing dependence on debt-driven growth while maintaining economic stability and equity