Keynes's legacy after 80 years
The ideas of the British economist John Maynard Keynes still resonate in global economic discussions after eighty years since his death. A new book by economic historian Robert Skidelsky asserts that Keynes's philosophy preceded his economic theories and was based on the idea that the economy is a tool for achieving a better life, not merely a means to increase wealth. The book advocates for expanding the government's role in managing the economy through increased public spending, broader income redistribution, and ensuring employment. This revival reignites the debate over the effects of government intervention, as it is often argued that such measures could harm productivity and economic freedom, especially amid concerns about tackling inflation and increasing sustainability at the expense of efficiency.
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