Show Notes
- Amazon USA Store: https://www.amazon.com/dp/B0BT32QDMG?tag=9natree-20
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#creditallocation #realestatelending #monetaryfinance #financialinstability #debtbias #BetweenDebtandtheDevil
Between Debt and the Devil: Money, Credit, and Fixing Global Finance is a 2015 nonfiction economics book by Adair Turner, later published by Princeton University Press, that examines why modern economies became so dependent on credit and why that dependence helped produce financial instability. Turner, a former senior financial regulator in the United Kingdom, writes from both a policy and institutional perspective, which gives the book a practical edge beyond theoretical debate. Its central purpose is to challenge the assumption that more private debt automatically supports healthy growth, and to argue that the composition of credit matters more than its total volume. The book focuses on how debt-financed real estate booms, leverage, and weak banking incentives can amplify crises, while also revisiting the role of monetary policy, bank regulation, and fiscal financing in stabilizing economies. It is best understood as a policy critique of the pre-crisis financial order and a proposal for redesigning finance to reduce systemic risk.