Overview

In The Credit Crunch, Graham Turner predicted that banks would be nationalised and interest rates would be reduced too slowly to halt the crisis. His predictions were correct. His new book, No Way to Run an Economy, is the essential guide to the turbulent times ahead. Turner recommended radical measures, such as quantitative easing, in early 2008 but argues that action has been taken too late and been too timid to make a real difference. He dissects the policy mistakes of the last 12 months including Obama's doomed market-led response to the crisis and the obsession of central banks with the red herring of inflation. There is no doubt the economy is still in serious trouble, but Turner shows that learning from the mistakes made so far can prevent a situation worse than that of the 1930s crisis.

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9780745329772

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Reviews

'Graham Turner is one of only a handful of economists to understand the roots of the current financial crisis, its implications for all of us and - crucially - what should be done now. I strongly recommend you read this book.' Larry Elliott, Guardian 'A timely analysis of the pressures on world money markets and the fundamental weaknesses in the global financial system. Graham Turner is a clear and independent voice in a confused and noisy world.' Hamish McRae, Independent

'Turner argues that we urgently need a thorough rethink of the shareholder model that blindly chases short-term profit and denies a voice to workers - and, indeed, to small investors' -- New Statesman

Author Information

Graham Turner is the founder of GFC Economics an independent economic consultancy which provides forecasting services for some of the world's largest banks. He has worked in the financial sector for over 20 years and is the author of The Credit Crunch (Pluto, 2008) and No Way to Run an Economy (Pluto, 2009).

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