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Time for radical changes in our economic thinking

Adair Turner's critique of free-market economics is coherent and compelling, says David Willetts

By David Willetts   January 2016

"Mammon and His Slave", wood engraving, published by Johann Jacob Weber, Leipzig

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…

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