Keynes: The Return of the Master
In the debris of the financial crash of 2008, the principles of John Maynard Keynes—that economic storms are a normal part of the market system, that governments need to step in and use fiscal ammunition to prevent these storms from becoming depressions, and that societies that value the pursuit of money should reprioritize—are more pertinent and applicable than ever. InKeynes: The Return of the Master, Robert Skidelsky brilliantly synthesizes Keynes career and life, and offers nervous capitalists a positive answer to the question we now face: When unbridled capitalism falters, is there an alternative?
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adjustment aggregate demand argued assets average banking system behaviour billion boom borrowing Bretton Woods Bretton Woods system Britain Burke capital central banks Classical economics Classical economists collapse commodity countries crisis debt deficit Depression developed dollar efficient efficient market theory equilibrium ethical exchange rates failure fall financial markets financial system fiscal Friedman full employment funds future global growth ideas income increase inflation intellectual interest rates investment investor John Maynard Keynes Keynes’s Keynes’s theory Keynesian macroeconomic ment Milton Friedman models monetarist monetary policy moral mortgages ofthe output Paul Krugman philosophy political problem quantitative easing rate of interest rational expectations real business cycle recession recovery reform regulation reserves risk saving slump social society spending stability stimulus stock market supply thought tion today’s trade uncertainty unemployment volatility wages Washington Consensus wealth wrote