A passionate and well-grounded defense of the Keynesian legacy: “Money and Government”, by Robert Skidelsky
Autores: Domínguez Martínez, José Manuel (Universidad de Málaga. Departamento de Economía Aplicada (Hacienda Pública, Economía Política y Política Económica). Calle Ejido, 6. 29071 Málaga, España)
Keywords: Fiscal Policy, J. M. Keynes, monetary policy, Money, public economics, Public sector, R. Skidelsky., Stabilization
This paper reviews "Money and Government: a challenge to mainstream Economics", by Robert Skidelsky (2018). In it, Skidelsky, author of the most imposing biography of John Maynard Keynes, carries out a rigorous and well-founded defense of his legacy. In his view, the most important economic problems of our time stem from erroneous views of money and government. Illustrating and refuting such views is the essential purpose of the work under review. The realization of this task is based on an exposition of the theoretical foundations, seasoned with an analysis of the historical evolution of economic thought, as well as of the praxis of economic policy. Special attention is paid to the influence of Keynesian doctrine and the policies applied in the context of the great international financial crisis of 2007-2008 and the subsequent recession. In addition, the author sets out the ingredients he considers necessary to configure a new Macroeconomics.