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The Myth of Austerity's Success

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The next St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, will be held on Wednesday 12 November 2014 – Lord Robert Skidelsky will give a talk on ‘The Myth of Austerity’s Success’. The seminar will be held in the RUSHMORE Room at St Catharine’s College from 6.00-7.30 pm. All are welcome.

ROBERT SKIDELSKY is emeritus professor of political economy at Warwick University. His three-volume biography of John Maynard Keynes 1983,1992, 2000) won five prizes and his book on the financial crisis. “Keynes: The Return of the Master” was published in September 2010. He was made a member of the House of Lords in 1991 (he sits on the cross-benches) and elected a fellow of the British Academy in 1994. ‘How Much is Enough? The Love of Money and the Case for the Good Life’, co-written with his son Edward, was published in July 2012.

In this seminar, Robert Skidelsky will point out that the current political debate between ‘unfair’ Tory cuts and ‘fair’ Labour cuts completely misses the macroeconomic point. Cutting public spending in a depression is wrong in theory and has delayed the recovery in practice. Skidelsky will explain why George Osborne’s 2010 promise to balance the budget in 5 years will leave a deficit of over £70bn; and will argue that the only way to bring the government’s accounts back into balance is through a programme of public investment.

Please contact the seminar organisers Philip Arestis ( and Michael Kitson ( in the event of a query.

This talk is part of the St Catharine's Political Economy Seminars series.

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