Magazine
Latest Issue

Time for radical change

Adair Turner's critique of free-market economics is coherent and compelling

By David Willetts  

Between Debt and the Devil: Money, Credit, and Fixing Global Finance by Adair Turner, Princeton, £19.95 

Adair Turner caused a stir in 2009 when he described much financial activity as “socially useless.” It was part of an interview with this magazine—which he fails to name in his book, instead referring to “a worthy but small circulation intellectual magazine.” Ouch!

Now Turner, Chairman of the Financial Services Authority from 2008 to 2013, has gone much further in this important and ambitious book. The shocking results of that 2008 failure meant that subsequently the authorities, quite rightly, did what they had to…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect