Support Ukraine through donations here

Shopping Cart

Your cart is empty

Continue Shopping

Robert Skidelsky

Money and Government: A Challenge to Mainstream Economics

€16,95

The dominant view in economics is that money and government should play only a minor role in economic life. Money, it is claimed, is nothing more than a medium of exchange; and economic outcomes are best left to the 'invisible hand' of the market. The view taken in this important new book is that the omnipresence of uncertainty make money and government essential features of any market economy. One reason we need money is because we don't know what the future will bring. Government - good government - makes the future more predictable and therefore reduces this kind of demand for money.

After Adam Smith orthodoxy persistently espoused non-intervention, but the Great Depression of 1929-32 stopped the artificers of orthodox economics in their tracks. A precarious balance of forces between government, employers, and trade unions enabled Keynesian economics to emerge as the new policy paradigm of the Western world. However, the stagflation of the 1970s led to the rejection of Keynesian policy and a return to small-state neoclassical orthodoxy. Thirty years later, the 2008 global financial crash was severe enough to have shaken the re-vamped classical orthodoxy, but, curiously, this did not happen. Once the crisis had been overcome - by Keynesian measures taken in desperation - the pre-crash orthodoxy was reinstated, undermined but unbowed. Since 2008, no new 'big idea' has emerged, and orthodoxy has maintained its sway, enacting punishing austerity agendas that leave us with a still-anaemic global economy.

This book aims to familiarise the reader with essential elements of Keynes's 'big idea'. By showing that much of economic orthodoxy is far from being the hard science it claims to be, it aims to embolden the next generation of economists to break free from their conceptual prisons and afford money and government the starring roles in the economic drama that they deserve.

Format: Paperback
Published: in UK in 2019
Publisher: Penguin Books Ltd
Pages: 512
Language: English
ISBN 13: 9780141988610
ISBN 10: 0141988614

Shipping & Delivery

Please allow us 24-48 hours to prepare your order. Once your order is ready to be dispatched, we will send it via Deutsche Post DHL which quotes the following delivery times:


Within Germany: 3-5 working days
Within Europe: 7-10 working days

We currently only ship to countries in Europe and the United Kingdom. If you have a request for shipping to another area of the world, please contact us at shakespeareandsons@gmail.com.

Refunds & Returns

At Shakespeare & Sons you can shop with confidence. We are happy to provide a refund or voucher of equal value where the goods are returned within 21 days of purchase unused, in original condition, accompanied by proof of purchase.

To return an online order within the refund policy period, please contact us and we will then give you instructions on how best to return your order so we can process your refund.

To return an in store purchase, please bring the purchased item and proof of receipt into the store, within 21 days of purchase.

Please note we do not offer discretionary exchange or refunds on Gift Vouchers, Sale Items, or damaged products. 

Gift Wrap & Cards

Shakespeare & Sons offer gift wrapping and greeting cards. To have your items gift wrapped, head to our Gift Wrap collection, choose the paper you prefer and add it to your cart. We will wrap the items for you and send them to the address you have submitted or have it ready in store for you to collect (depending on what option you select at check out).

Check out our Greeting Card collection here. If you would like us to include a message in your selected card, forward your purchase confirmation onto shakespeareandsons@gmail.com with some words and we will add these in for you. 

We're here to help

Can't find what you're looking for?

If the book you're after is not displayed on our website or is 'sold out' please feel free to contact us at shakesandsonsberlin@gmail.com or come into the store and we can let you know the cost of ordering it and expected arrival time.

Money and Government: A Challenge to Mainstream Economics

€16,95