We don’t know how to get out of this malaise and I think we now have to consider more radical policies.
JONATHAN ADAIR TURNERWe don’t know how to get out of this malaise and I think we now have to consider more radical policies.
JONATHAN ADAIR TURNERThe probability that we face global warming caused by fossil fuels is now so overwhelming that it is legitimate to doubt the motives of those who deny it
JONATHAN ADAIR TURNERRising inequality can create a more highly leveraged economy, and it can then make the economy vulnerable to a crash like 2008.
JONATHAN ADAIR TURNERIf 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.
JONATHAN ADAIR TURNERThe capitalist system is not delivering those decade-after-decade increases it promised.
JONATHAN ADAIR TURNERIn absolute terms, we may have to look at restricting the number of flights people take.
JONATHAN ADAIR TURNERThe 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 people would if they got another $100 or $1,000 or $5,000.
JONATHAN ADAIR TURNERWe need to move beyond the demonisation of overpaid traders
JONATHAN ADAIR TURNERIf we don’t constrain them, and the fact that credit is primarily created to fund the purchase of urban real estate and land, which is somewhat fixed in supply.
JONATHAN ADAIR TURNERInstability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite quantities
JONATHAN ADAIR TURNERWe’re not where we should be in terms of our national economies.
JONATHAN ADAIR TURNERIn economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for unstable prices.
JONATHAN ADAIR TURNERAll the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.
JONATHAN ADAIR TURNERIn finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.
JONATHAN ADAIR TURNERThis isn’t a stable system.
JONATHAN ADAIR TURNER