In der aktuellen Corona-Krise wiederholen sich die Muster früherer Krisen. Vor dem Hintergrund sinkender Produktion und steigender Arbeitslosigkeit versuchen Notenbanken und Staaten weltweit ihre Ökonomien vor einem größeren Absturz zu bewahren. Die Rezeptur für diese Stabilisierungspolitik basiert auf der Lehre des britischen Ökonomen John Maynard Keynes, die dieser vor dem Hintergrund der Großen Depression im … Continue reading Keynes: die erneute Rückkehr des Meisters
Category: Journalism
Joseph Schumpeter
The theorist of "creative destruction," one of the greatest economists of the 20th century, was no stranger to violent disruption in his personal life, as a new biography reveals Joseph Alois Schumpeter (1883-1950) was one of the greatest economists of the 20th century—commonly bracketed with such giants as Keynes, Hayek and Friedman. He is best … Continue reading Joseph Schumpeter
Letter: Remember Kissinger’s advice to the Ukrainians
Nato governments have rightly said they are willing to address Russia’s security concerns, but then say in the same breath that Russia has no legitimate security concerns because Nato is a purely defensive alliance. Whether we like it or not, a Nato that now borders Russia and could in future border even more of Russia … Continue reading Letter: Remember Kissinger’s advice to the Ukrainians
Macro Economics, End of Work Climate Change
Robert Skidelsky is emeritus professor of political economy at Warwick University. His numerous, award-winning books include Keynes: The Return of the Master (2010), a discussion of John Maynard Keynes and the urgent relevance of his ideas in the wake of the 2008 financial crisis, and How Much is Enough? The Love of Money and the Case for the … Continue reading Macro Economics, End of Work Climate Change
Link to a lecture ‘Keynes and Usury’ I delivered at Kosela University on 23 May 2021
Britain’s Benefit Madness
Work is the ultimate escape from poverty. But the futile sort demanded by the United Kingdom’s income-support scheme puts many of society’s weakest members on a path to nowhere, because it reflects a welfare ideology that fails to distinguish fantasy from reality. LONDON – Mahatma Gandhi probably never said, “The greatness of a nation can be … Continue reading Britain’s Benefit Madness
Sequencing the Post-COVID Recovery
As countries emerge from the COVID-19 pandemic, John Maynard Keynes’s emphasis on the need to implement post-crisis economic policies in the right order is highly relevant. But sustainability considerations mean that the distinction between recovery and reform is less clear cut than it seemed in the 1930s. LONDON – John Maynard Keynes was a staunch … Continue reading Sequencing the Post-COVID Recovery
Spending Review: Beyond Accountancy
The furlough and the business support schemes, started in March, would end in October to coincide with the reopening of the economy. This meant that the UK economy would be much the same -give and take some minor “scarring”- in 2021 as it was in 2019: a year’s growth lost, but that was the limit … Continue reading Spending Review: Beyond Accountancy
Why the West failed to contain COVID-19
The promise of a “final” end to lockdowns in the spring of 2021 is the kind of hyperbole we have come to expect about new products and policies. The Oxford University vaccine may work; it may even be delivered effectively. Meanwhile, Covid-19 is still around, the UK government is extending lockdown for large parts of the … Continue reading Why the West failed to contain COVID-19
Job Creation is the New Game in Town
November 13 2020Even if a successful rollout of a new COVID-19 vaccine causes the current health crisis to recede by next spring, the unemployment crisis will remain. That is especially true in the United Kingdom, where fiscal stimulus is urgently needed to avert a lost decade – if not a lost generation – of growth. … Continue reading Job Creation is the New Game in Town
Robert Skidelsky 