Five Years of Economic Crisis

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A collection of essays and speeches from Robert Skidelsky spanning 2008-2013

“After three years of flat-lining, the British economy has started to grow again. We should all be pleased with that. What the supporters of Osborne’s austerity policy are not entitled to claim is that his critics were wrong, and should hold their heads in shame.  As far as I know, no critic of Osbornism claimed the British economy would never recover. All economies do, sooner or later, however big the shock. But policy makes a difference.”

In this selection of his writings from the past five years, Robert Skidelsky builds a convincing case that George Osborne’s austerity policies have hindered the economy, leading to five years of dismal growth and economic stagnation. This collection traces the debate from the earliest days in 2008 through to more recent ‘green shoots’ of recovery. As the economy slowly begins recovery, now is the moment to recognise that as well as hindering recovery, austerity has failed to solve the deeper problems in our economy.

With his distinctly Keynesian perspective, Robert Skidelsky believes the problem is not only an economic question, but also a human one: “Supporters of austerity show little feeling for the many millions who were made to suffer years of extra unemployment, under-employment, and falling real incomes for the sake of austerity. They are doubly victims: first of the imprudence of the banks, then of the miserliness of the Chancellor.”

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