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.