Lord Robert Skidelsky

Crossbench peer and Emeritus Professor of Political Economy at Warwick University


Lord Robert Skidelsky is a political economist and economic historian. He is best known for his major, three-volume biography of John Maynard Keynes (1983, 1992, 2000) for which he was awarded five literary prizes. He is also the author of Keynes: Return of the Master (2009), an analysis of the financial crisis; How Much is Enough? The Love of Money and the Case for the Good Life (2012), co-written with his son Edward; and co-editor of Austerity vs Stimulus (2017).

He has recently written and filmed a series of lectures on the History and Philosophy of Economics, which will be made available as an open online course in partnership with the Institute for New Economic Thinking (INET). His latest book Money and Government: A Challenge to Mainstream Economics was published by Allen Lane in September 2018, and he is now working on a book about automation and the future of work.

Where Has All the Money Gone?

Quantitative easing risks generating its own boom-and-bust cycles, and can thus be seen as an example of state-created financial instability. Governments must abandon the fiction that central banks create money independently from government, and must themselves spend the money created at their behest.

Reinstating fiscal policy for normal times

The paper outlines the case for fiscal policy to regain a permanent status of primacy in modern macroeconomic management, beyond the pandemic emergency and makes the case for public job programmes

Robert Skidelsky – 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”

Robert Skidelsky comments on the 2021 budget

“I am highly sceptical about this story of ‘pent-up demand’. A shrinkage in national income by 10% implies a fall, not rise, in national saving. Saving out of income may go up, but income itself is lower. That’s why it’s not like in a war, when you have full employment and rising wages, but less to spend money on. “

PEF Council letter to FT on social infrastructure

The regeneration of Britain’s ‘national infrastructure’ must include investment in ‘social infrastructure’ such as childcare, schools and universities, regional theatres, orchestras, common spaces, and local sports.

Sustaining and creating employment now and post Covid

The focus of economic policy should be on maintaining a high, sustainable level of employment. This is correct theoretically, practically, and socially. It counterbalances the capitalist market system’s tendency not to create a high level of employment.

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