At the famous Oxford Union, Mehdi Hasan challenges former top financial regulator Lord Adair Turner on the role of the banks, the politics behind austerity and whether capitalism has failed.

Lord Turner was at the helm of the UK's Financial Services Authority (SFA) in the wake of the financial meltdown and is now trying to find groundbreaking solutions to global problems at the Institute of New Economic Thinking.

Hasan challenges the man at the heart of rethinking the global economic system about his past experience, his present thoughts, and our future.

Joining the discussion:

Jon Moulton: a venture capitalist and the founder of the private equity firm Better Capital.

Professor Costas Lapavitas: teaches economics at SOAS (School of Oriental and African Studies) at the University of London and is an author.

Ann Pettifor: the director of PRIME (Policy Research Macroeconomics), and a fellow of the New Economics Foundation.

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