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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.

By this expert

Monetary Finance: Mechanics & Complications

Article | May 23, 2016

Eight years after the 2008 crisis the global economy is still stuck with low growth, too low inflation, and rising debt burdens. Massive monetary stimulus has failed to generate adequate demand, and some commentators suggest that we are “out of ammunition” with which to counter deflationary pressures.

Is Productivity Growth Becoming Irrelevant?

Article | Jul 21, 2017

As the Nobel laureate economist Robert Solow noted in 1987, computers are “everywhere but in the productivity statistics.” Since then, the so-called productivity paradox has become ever more striking. Automation has eliminated many jobs. Robots and artificial intelligence now seem to promise (or threaten) yet more radical change. Yet productivity growth has slowed across the advanced economies; in Britain, labor is no more productive today than it was in 2007.

We’ll Always Need Paris

Article | Jun 29, 2017

Faced with rapid cost reductions for clean electricity generation, some commentators suggest that we no longer need the Paris agreement or other policy interventions, because technology alone can solve all problems.

Pathways & Obstacles to a Low-carbon Economy

Article | Apr 27, 2017

The energy transition is happening. But the pace of change depends on a range of technical, business, and societal factors.

Featuring this expert

Reawakening

From the Origins of Economic Ideas to the Challenges of Our Time

Event Conference #INET2017 | Oct 21–23, 2017

This fall, hundreds of leading scholars, policymakers and public officials will gather at the Edinburgh International Conference center for the INET 2017 conference.

Adair Turner on the Liquidity Risks of ETFs

Video | Feb 5, 2017

Turner discusses The Economist’s Society the liquidity risks posed by Exchange Traded Funds.

INET's Turner Warns Against 'Fantasy' of Stimulating Economies Through Financial Deregulation

Article | Jan 5, 2017

There is no good case for major deregulation of the US financial sector, warns INET Board Chairman Adair Turner, and any backsliding by a Trump administration on banks’ capital requirements instituted globally after 2008 will be very dangerous

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