icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Britain’s private debt problem

On the 10-year anniversary of the financial crisis, politicians are again ignoring the drivers that caused the biggest financial meltdown since 1929. Contrary to political groupthink, it was actually excess private debt – not public debt – that brought the economy crashing down in 2007. But today, private debt is again raging. So what’s stopping us talking about the taboo that is Britain’s private debt problem? Host Ross Ashcroft is joined by anthropologist and writer David Graeber and the former chairman of the now-abolished Financial Services Authority, Lord Adair Turner.