If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you're going to have a problem. This isn't a stable system. — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
Instability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite quantities if we don't constrain them, and the fact that credit is primarily created to fund… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
The probability that we face global warming caused by fossil fuels is now so overwhelming that it is legitimate to doubt the motives of… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
In absolute terms, we may have to look at restricting the number of flights people take. — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
In economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
Rising inequality can create a more highly leveraged economy, and it can then make the economy vulnerable to a crash like 2008. — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
The richer people, when they get another $100,000, or another million, or 10 million, don't tend to spend it as much as the poorer… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
The capitalist system is not delivering those decade-after-decade increases it promised. We're not where we should be in terms of our national economies. We… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
Instability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
We need to move beyond the demonisation of overpaid traders ... In finance and economics, ill-designed policy is a more powerful force for harm… — Adair Turner, Baron Turner of Ecchinswell Copy Share Image
