Published on VOX, CEPR Policy Portal (https://voxeu.org)

Home > The strange amnesia of modern macroeconomics

The strange amnesia of modern macroeconomics

Adair Turner [1] interviewed by Romesh Vaitilingam [2], 19 March 2016

Prior to the Global Crisis, modern macroeconomics largely ignored the details of the financial system, and favoured mathematical precision and elegance at the expense of realism. So argues Adair Turner in this Vox Talk. He also explains the key arguments in his book, ‘Between Debt and the Devil: Money, Credit and Fixing Global Finance’: that most credit is not needed for economic growth but rather drives real estate booms and busts; and that sometimes it’s better to print your way out of financial crises.    

Unfortunately the file could not be found.

Open in a pop-up window Open in a pop-up window [4]

Download

Download MP3 File [5] (20.5MB)
[6]

a

A

Topics:  Macroeconomic policy [7]

Tags:  financial crises [8], credit [9]

AttachmentSize
Audio icon Adair_Turner_FINAL.mp3 [10]0 bytes


Source URL: https://voxeu.org/vox-talks/strange-amnesia-modern-macroeconomics

Links
[1] https://voxeu.org/user/222456
[2] https://voxeu.org/user/219854
[3] http://www.adobe.com/products/flashplayer/
[4] https://voxeu.org/popup/60256
[5] https://voxeu.org/audio_files/Adair_Turner_FINAL.mp3
[6] itpc://www.voxeu.org/rss.php?q=itunes_podcast
[7] https://voxeu.org/content/topics/macroeconomic-policy
[8] https://voxeu.org/taxonomy/term/606
[9] https://voxeu.org/taxonomy/term/2703
[10] https://voxeu.org/sites/default/files/Adair_Turner_FINAL.mp3