Friday, May 10, 2013

Skidelsky Cuts Through the Nonsense

In a brief essay in the Washington Post (here) Lord Skidelsky brilliantly explains Keynes' thinking about austerity v. stimulus and present jobs v. future jobs. In the process he not only debunks Niall Ferguson's pathetic and ignorant psycho-biographical explanation of Keynes' thinking (see here),* but also puts the anti-Keynesians austerity-hawks on the back foot.

*It's hard to believe that he's the same Niall Ferguson who authored the magnificent two-volume history of the House of Rothschild and The Cash Nexus.

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