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Robert Skidelsky's The Return of the Master shows how the great economist's ideas not only explain why the current financial crisis occurred - but are our best way out. 'One would expect brokers to be wrong. If, in addition to their other inside advantages, they were capable of good advice, clearly they would have retired long ago with a large fortune' John Maynard Keynes When unbridled capitalism falters, is there an alternative? The twentieth century's most influential economist tells us that there is. John Maynard Keynes argued that an unmanaged market system is inherently unstable because of irreduceable uncertainty; that fiscal and monetary ammunition is needed to counter economic shocks; and that governments need to maintain enough total spending power in the economy to minimize the chance of serious recessions happening. 'The great economist's theories have never been more relevant ... and Robert Skidelsky is the guide of choice ... A must read' Paul Krugman, Observer 'Keynes' economic policies helped lift Britain from its 1930s slump. This accessible, timely study argues he could do the same again' Dominic Lawson, Sunday Times 'Masterly ... conveys complex ideas with clarity and controlled anger' Oliver Kamm, The Times 'Skidelsky knows more about Keynes than anyone alive ... he is righteous in his thunder ... provocative ... refreshing' Dwight Gardner, The New York Times 'Thought-provoking ... the best account I have read of the development of the credit crunch' Samuel Brittan, Financial Times Robert Skidelsky is Emeritus Professor of Political Economy at the University of Warwick. His three volume biography of the economist John Maynard Keynes (1983, 1992, 2000) received numerous prizes, including the Lionel Gelber Prize for International Relations and the Council on Foreign Relations Prize for International Relations. He is also the author of the The World After Communism (1995).
Author
Lord Skidelsky is Emeritus Professor of Political Economy at the University of Warwick. His three volume biography of the economist John Maynard Keynes (1983, 1992, 2000) received numerous prizes, including the Lionel Gelber Prize for International Relations and the Council on Foreign Relations Prize for International Relations. He is the author of the The World After Communism (1995) (American edition called The Road from Serfdom). He was made a life peer in 1991, and was elected Fellow of the British Academy in 1994. He is chairman of the Govenors of Brighton College Robert Skidelsky was born on 25 April 1939 in Harbin, Manchuria. His parents were British subjects, but of Russian ancestry. His father worked for the family firm, L. S. Skidelsky, which leased the Mulin coalmine from the Chinese government. When war broke out between Britain and Japan in December 1941, he and his parents were interned first in Manchuria then Japan, but released in exchange for Japanese internees in England. From 1953 to 1958, he was a boarder at Brighton College (of which he is now chairman of the board of governors). He went on to read history at Jesus College, Oxford, and from 1961 to 1969, he was successively research student, senior student, and research fellow at Nuffield College, Oxford. In 1967, he published his first book, Politicians and the Slump, Labour Government of 1929-31, based on his D.Phil dissertation. The book explores the ways in which British politicians handled the Great Depression. During a two year research fellowship at the British Academy, he began work in his biography of Sir Oswald Mosley (published in 1975) and published English Progressive Schools (1969). In 1970, he became an Associate Professor at the School of Advanced International Studies, John Hopkins University. But the controversy surrounding the publication of his biography of Sir Oswald Mosley - in which he was felt to have let Mosley off too lightly - led John Hopkins University to refuse him tenure. Oxford University also proved unwilling to give him a permanent post. In 1978, he was appointed Professor of International Studies at the University of Warwick, where he has since remained, though joining the Economics Department as Professor Political Economy in 1990. He is currently Andrew D. White Professor-at-Large at Cornell University. The first volume of his biography of John Maynard Keynes, Hopes Betrayed, 1883-1920, was published in 1983. The second volume, The Economist as Saviour, 1920-1937 (1992) won the Wolfson Prize for History. The third volume, Fighting for Britain, 1937-1946 (2000) won the Duff Cooper Prize, the James Tait Black Memorial Prize for Biography, the Lionel Gelber Prize for International Relations and the Arthur Ross Council on Foreign Relations Prize for International Relations. Since 2003, he has been a non-executive director of the mutual fund manager, Janus Capital and Rusnano Capital; from 2008-10 he sat on the board of Sistema JSC. He is a director of the Moscow School of Political Studies and was the founder and executive secretary of the UK/Russia Round Table. Since 2002, he has been chairman of the Centre for Global Studies. In 2010, he joined the Advisory Board of the Institute of New Economic Thinking. He writes a monthly column for Project Syndicate, "Against the Current", which is syndicated in newspapers all over the world. His account of the current economic crisis, Keynes: The Return of the Master, was published by Penguin Allen Lane in September 2009. A short history of twentieth-century Britain was published by Random House in the volume A World by Itself: A History of the British Isles edited by Jonathan Clark in January 2010. He is now in the process of writing How Much is Enough? The Economics of the Good Life jointly with his son Edward Skidelsky.
