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BL
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| Record Number
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875484
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| Main Entry
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Skidelsky, Robert
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| Title & Author
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Money and government : : the past and future of economics /\ Robert Skidelsky.
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| Publication Statement
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New Haven :: Yale University Press,, 2018.
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, ©2018
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| Page. NO
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1 online resource
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| ISBN
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030024424X
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: 9780300244243
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0300240325
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9780300240320
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| Bibliographies/Indexes
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Includes bibliographical references (pages 427-460) and index.
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| Contents
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Cover; Half Title; Title; Copyright; Dedication; Contents; List of Figures; Preface; Introduction; i. Unsettled Issues; ii. The Culprits; iii. A Brief Sketch of the Book; Appendix I.1: Ideas, Vested Interests and Cycles; Part One History of Economic Thought; 1. The Mysteries of Money: A Short History; i. The Classical Dichotomy; ii. The Origins of Money; iii. The Value of Money; iv. Creditors and Debtors; v. The Origins of the Quantity Theory of Money; vi. The Demand for Money; vii. Money, the Great Deceiver; viii. Conclusion; 2. The Fight for the Gold Standard
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4. Theories of the Fertile and Barren Statei. Introduction; ii. The Fertile State of the Mercantilists; iii. The Wasteful State of the Political Economists; iv. The Victorian Fiscal Constitution; v. The Persistence of Mercantilism; vi. Conclusion; Part Two The Rise, Triumph and Fall of Keynes; 5. Keynes's Intervention; i. The Trouble with Money; ii. The Problem with Fiscal Policy; iii. The Macmillan Committee; iv. The General Theory of Employment, Interest, and Money; v. Policy Implications; vi. Conclusion; Appendix 5.1: Contrast Between the Classical and Keynesian Models
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Appendix 5.2: The Fiscal Multiplier6. The Keynesian Ascendancy; i. Keynesianism Ascendant; ii. Full Employment Keynesianism: 1945-60; iii. Growth Keynesianism: 1960-70; iv. Reasons for the Strength of the Boom; v. Stagflation Keynesianism: 1970-76; vi. Great Britain: the End of the Keynesian Road; 7. The Theory and Practice of Monetarism; i. Keynes and the Classics; ii. The Neo-classical Synthesis; iii. The Emergence of the Counter-orthodoxy; iv. Monetarism; v. The Monetarist Experiment: 1976-85; vi. Monetarism's Fiscal Legacy; vii. From Friedman to the New Consensus: 1985-2008
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I. Prelude to the Gold Standard: the British Recoinage Debate of the 1690sii. Nineteenth-century Monetary Debates: An Overview; iii. Bullionists versus the 'Real Bills' Doctrine; iv. Currency School versus Banking School; v. Bimetallism; vi. How Did the Gold Standard Actually Work?; 3. The Quantity Theory of Money: From History to Science; i. The Quantity Theory of Money: The Two Branches; ii. Fisher's Santa Claus; iii. Knut Wicksell's Credit Money version of the QTM; iv. Was Wicksell a Quantity Theorist?; v. Conclusion; Appendix 3.1: Fisher's Equation
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Viii. ConclusionAppendix 7.1: IS/LM, the Keynesian Teaching Tool; Appendix 7.2: The Modelling of Expectations; Appendix 7.3: The Central Bank Reaction Function; Part Three Macroeconomics in the Crash and After, 2007-; 8. The Disablement of Fiscal Policy; i. The Fiscal Crisis of the State; ii. The British Debate; iii. Austerity: A Comparative Assessment; iv. Conclusion; Appendix 8.1: Monetary Financing of the Deficit; 9. The New Monetarism; i. Pre-crash Monetary Orthodoxy; ii. Why Quantitative Easing?; iii. Quantitative Easing Programmes, 2008-16; iv. How was QE Meant to Work?; v. Assessment
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| Abstract
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A critical examination of economics' past and future, and how it needs to change, by one of the most eminent political economists of our time The dominant view in economics is that money and government should play only minor roles in economic life. Economic outcomes, it is claimed, are best left to the "invisible hand" of the market. Yet these claims remain staunchly unsettled. The view taken in this important new book is that the omnipresence of uncertainty makes money and government essential features of any market economy. Since Adam Smith, classical economics has espoused non-intervention in markets. The Great Depression brought Keynesian economics to the fore; but stagflation in the 1970s brought a return to small-state orthodoxy. The 2008 global financial crash should have brought a reevaluation of that stance; instead the response has been punishing austerity and anemic recovery. This book aims to reintroduce Keynes's central insights to a new generation of economists, and embolden them to return money and government to the starring roles in the economic drama that they deserve.
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| Subject
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Economic policy.
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Macroeconomics.
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BUSINESS ECONOMICS-- Economics-- Macroeconomics.
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Economic policy.
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Macroeconomics.
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POLITICAL SCIENCE-- Economic Conditions.
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| Dewey Classification
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339
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| LC Classification
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HD82.S55 2018
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