John Maynard Keynes

Standpoint’s columnist Tim Congdon responds to Martin Wolf on the Great Recession, austerity, and the proper use of fiscal policy

The economist’s legacy has been mostly disastrous

Martin Wolf and his academic mentors warned that austerity would be economic suicide. They were and are mistaken

Peace and sound money are the two necessary and sufficient requisites for prosperity. This makes Sir Robert Peel a great hero of Conservative MP Kwasi Kwarteng’s book. Sir Robert, who was instrumental in returning the United Kingdom to the gold standard in 1821, also believed in a balanced budget and introduced the Bank Charter Act of 1844. These remained the pillars of British finance until 1914, coinciding with a period of tremendous economic success and improvement in living standards and life expectancy. 

Versailles trots out Keynes’s tired arguments while 1984 mistakes Winston Smith for Edward Snowden

There is a truth at the heart of his controversial comments about my antecedent which Niall Ferguson does not need to apologise for

Keynesian policy recommendations are now the staple of governments around the world but it is hard to believe Keynes himself would endorse them

‘To Keynesians such as Martin Wolf and Larry Summers, the theory is simple: cuts in public expenditure and reductions in deficits have deflationary effects. But what about the evidence?’

Adam Smith’s invisible hand is lifting us out of recession, but globalisation can be snuffed out again by protectionism

The most inflential economist of the 20th century still dominates debate about the financial crisis. His biographer Robert Skidelsky and Britain’s leading monetarist Tim Congdon discuss the relevance of Keynes