Money and Government

About the book

'In this remarkable work, Robert Skidelsky unites his experience, knowledge and talents in a sweeping account of money and power' James K. Galbraith

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...