Adair Turner: Is rapid credit growth really necessary to boost GDP growth?: The fundamental question therefore remains: Is there something about modern economies that makes adequate demand growth impossible without damaging credit growth? Rising inequality is one driver of this apparent “need for credit.” Wealthier people have a higher marginal propensity to save than poorer … Continue reading Morning Must-Read: Adair Turner on Rising Inequality as Possible (Probable?) Driver of Much of Our Demand-Management Difficulties