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Adair Turner

Lord Turner is Chairman of the Institute for New Economic Thinking.  Prior to joining the Institute in 2013, he chaired the UK Financial Services Authority (2008-2013) and played a leading role in the redesign of the global banking and shadow banking regulation as Chairman of the International Financial Stability Board’s major policy committee.

Lord Turner has combined a business career with public policy and academia.  He was at McKinsey from 1982-95, building their practice in East Europe and Russia; was Director General of the CBI (Confederation of British Industry) 1995-2000; became Vice-Chairman of Merrill Lynch Europe (2000-06) and has been a Non-Executive Director of a number of companies, including Standard Chartered plc (2006-08).  Currently Lord Turner is an advisor to the Board of UK start-up bank OakNorth, a non-Executive Director at Prudential plc., and most recently appointed Chairman of CHUBB Europe. He is also chairing the Energy Transitions Commission, and is a Trustee of the British Museum.  A cross-bench member of the House of Lords since 2005, he served as the first Chairman of the Climate Change Committee (2008-12); chaired the Pensions Commission (2003-06) and the Low Pay Commission (2002-06).  

His latest book Between Debt and the Devil, was published by Princeton in 2015 and has been translated into Chinese; other publications include ‘Just Capital-The Liberal Economy’ (2001); ‘Economics After the Crisis’ (2012).  He is Senior Fellow at the Centre for Financial Studies (Frankfurt), and a visiting professor at the London School of Economics and at Cass Business School.  More recently he’s been appointed Visiting Fellow at the People’s Bank of China School of Finance, Tsinghua University (Beijing) and Visiting Professor  at the International Center for Islamic Finance (INCEIF) in Kuala Lumpur. He was elected an Honorary Fellow of the Royal Society in 2016.

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Escaping The Addiction to Private Debt Is Essential for Long-Term Economic Stability

Article | Feb 10, 2014

Inflation targeting insufficient: central banks and governments must manage the quantity and mix of credit created

Capital Markets Balkanization Should Not Prevent Regulation

Article | Jan 13, 2014

Fears that bank regulation or capital controls could lead to a “balkanisation” of global capital markets are overstated and should not constrain policy action to address the problems created by volatile short term capital flows and excessive credit creation, says Adair Turner, Senior Fellow at the Institute for New Economic Thinking and former chairman of the United Kingdom Financial Services Authority.

Too Much Debt: Adair Turner on the Dangers of Excessive Sector Leverage

Article | Nov 7, 2013

Adair Lord Turner, former Chairman of Great Britain’s Financial Services Authority and current Senior Fellow at the Institute for New Economic Thinking, argued in a keynote address to the Federal Reserve Bank of Chicago on Thursday that central banks must be equipped in future to address the dangers of excessive private sector leverage, using both pre-emptive interest rate policy and macro-prudential policy tools.

Economic Policy Must Address Excessive Private Sector Leverage

Article | Nov 6, 2013

Adair Lord Turner, former Chairman of Great Britain’s Financial Services Authority and current Senior Fellow at the Institute for New Economic Thinking, will argue in a keynote address to the Federal Reserve Bank of Chicago on Thursday that central banks must be equipped in future to address the dangers of excessive private sector leverage, using both pre-emptive interest rate policy and macro-prudential policy tools.

Offsite links

Instability in a Monetary Economy

May 12, 2016 Chicago Booth School

"There are no riskless ways out"

Jan 24, 2016 Bilanz

Lord Turner on finance and inclusive economic transformation

Nov 24, 2015 Overseas Development Institute

Debt Déjà Vu

Oct 5, 2015 Project Syndicate

The Debt Business

Aug 25, 2015 BBC Radio 4

The Real Demographic Challenge

Aug 14, 2015 Project Syndicate

Greece for Grownups

Jul 12, 2015 Project Syndicate

China’s Real Reform Challenge

Jun 11, 2015 Project Syndicate

The Debt Dilemma

Apr 16, 2015 Project Syndicate

Caught in a Debt Trap

Mar 24, 2015 Cass Business School

Japan’s Accounting Problem

Mar 15, 2015 Project Syndicate

The Global Economy’s Chinese Headwinds

Feb 11, 2015 Project Syndicate

Progress and Monetisation

Feb 3, 2015 Berfrois

Have We Become Too Flexible?

Jan 21, 2015 Project Syndicate

Please Steal Our Fossil Fuels

Dec 22, 2014 Project Syndicate

Germany’s Secret Credit Addiction

Nov 9, 2014 Project Syndicate

China’s Balancing Act

Oct 7, 2014 Project Syndicate

Facing Reality in the Eurozone

Sep 7, 2014 Project Syndicate

When Fewer Is Better

Aug 12, 2014 Project Syndicate

The Trade Delusion

Jul 17, 2014 Project Syndicate

The Great Credit Mistake

Jun 5, 2014 Project Syndicate

The Perils of Financial Freedom

May 8, 2014 Project Syndicate

The High-Tech, High-Touch Economy

Apr 15, 2014 Project Syndicate

Rethinking the Monetization Taboo

Mar 17, 2015 Project Syndicate

In Praise of Fragmentation

Feb 17, 2014 Project Syndicate

Debt and Demand

Jan 9, 2014 Project Syndicate

Inequality by the Click

Jan 7, 2014 Project Syndicate

The Failure of Free-Market Finance

Sep 3, 2013 Project Syndicate

Overt Monetary Finance and Crisis Management

Aug 9, 2013 Project Syndicate

Too Much “Too Big to Fail”?

Sep 1, 2010 Project Syndicate

The Uses and Abuses of Economic Ideology

Jul 14, 2010 Project Syndicate