We might call him an historian, a political economist possibly – as Spud calls himself – and even a biographer but:
Robert Skidelsky, in a chapter of a new book, The Return of the State, sketched out some ideas for what the UK government should do, including taking responsibility for all procurement affecting the health of the nation; a public sector job guarantee for the unemployed; ensuring sufficient demand through redistribution rather than relying on personal debt; and capital controls to reduce government dependence on international credit markets. In the current climate, none sound nearly as unfeasible as they would have done five years ago.
Food affects health – as we keep being told – so government is going to buy all the food? Worked well for the Soviets.
But it’s the capital thing that is lunatic. We run trade deficits. Therefore we import, not export, capital. So, we impose capital controls and we have less capital in the country. We also tax all the capital off the rich folks to redistribute to increase demand and – well, who in buggery has capital left to lend to the government?