How much is enough?: money and the good life

Book Cover
Average Rating
Publisher
Other Press
Publication Date
[2012]
Language
English

Description

Analyzes questions that arose from the 2008 financial crisis while assessing the predictions of John Maynard Keynes, sharing the authors' views of a positive life and how recent generations have traded morality for wealth.

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Table of Contents

From the Book

Keynes's mistake
The Faustian bargain
The uses of wealth
The mirage of happiness
Limits to growth: natural or moral?
Elements of the good life
Exits from the rat race.

More Details

Contributors
ISBN
9781590515075
9781590515082

Published Reviews

Choice Review

Robert Skidelsky (Univ. of Warwick, UK), biographer of Keynes (John Maynard Keynes, CH, May'02, 39-5300), and his son Edward Skidelsky (Exeter Univ., UK) pick up on Keynes's belief that, as economic growth reduced scarcity, people would work less, stabilize their consumption while improving its quality, and increase both the time and quality of their leisure. While the authors realize that people have not behaved as Keynes thought they would, they believe it is possible for people to do so. They set out not only to convince the reader that it is possible, but to make the case for doing so. In the process, they survey and criticize a variety of economic literature relevant to their quest, including the happiness literature, John Rawls, Amartya Sen's capabilities approach, environmentalism, Alasdair MacIntyre, and Catholic social thought. In the end, what they want, however, appears a lot like the arguments of mid-20th-century economists across the political spectrum: basic income, expenditure rather than income taxes, and reduction of advertising. The argument is concise without being pedantic, and is quite accessible to undergraduate students, which is perhaps its best audience. Summing Up: Recommended. Students, upper-division undergraduate and up, as well as general readers. R. B. Emmett James Madison College, Michigan State University

Copyright American Library Association, used with permission.
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Publisher's Weekly Review

In the wake of the financial crisis of 2008 and a continued period of global economic unrest, the Skidelskys, a father-son team composed of University of Warwick emeritus professor of political economy Robert (Keynes: The Return of the Master) and Exeter University lecturer Edward (Ernst Cassirer: The Last Philosopher of Culture), tackle age-old questions regarding the relationship between wealth, happiness, and satisfaction in this enlightening read. While the book's scholarly tone and laborious construction may not appeal to the casual reader, the questions posed and the research and conclusions presented are timely, relevant, and thought provoking. The authors begin by disputing economist John Maynard Keynes's 1930 prediction that as per capita income rose and basic needs were met, leisure and free time would increase. In fact, they point out, in modern times, though our income has risen, we work harder than ever, have less leisure than in previous eras, and have less happiness and satisfaction in our lives. The authors turn to historical fiction, philosophy, and political theory, drawing on Faust, Marx's critique of capitalism, and Aristotle's uses of wealth. Their conclusion that concepts like respect, friendship, and community are more likely to contribute to satisfaction and overall happiness than wealth makes for a fascinating, if cerebral, read. Agent: Peter Matson, Sterling Lord Literistic. (June) (c) Copyright PWxyz, LLC. All rights reserved.

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Kirkus Book Review

A provocative and articulate discourse on the dismal science and moral philosophy. Eminent economic historian Robert Skidelsky (Political Economy Emeritus/Univ. of Warwick; Keynes: The Return of the Master, 2009, etc.) and his philosopher son Edward (Moral and Political Philosophy/Exeter Univ.) recall when John Maynard Keynes predicted that, in his grandchildren's days, no one would need to work much more than a few hours a week to satisfy our shared human needs. As the great economist expected, production soared, but work increased as well. What happened to the dream of Keynes? Though he thought needs were finite, the sought-after good life expanded. Needs may be satisfied, but not wants or the insatiable desire for more. In seeking to find suitable goods for the blissful life, the authors conflate economic theory with philosophy. They cite Marx and Marcuse, Aristotle and Adam Smith, happiness economists and ecological economists, the dharma sutra and story of Faust. In sum, they posit certain requirements: health, security, respect, individuality, harmony with nature, friendship and leisure. Individually and as a society, we should value these, not perpetual growth. With a statement likely to attract notice, the Skidelskys write, "the capitalist system in our part of the world is entering its degenerative phase." As an alternative to avarice and excess, the authors propose "non-coercive paternalism," including basic income payments to all (as in Alaska), reduction of advertising (how else would we choose our presidents?), a graduated use tax and, possibly, some sumptuary laws. Not for libertarians or the Fox News crowd, but the authors deliver powerful, timely material for Wall Street occupiers, public intellectuals, policy wonks and op-ed columnists.]] Copyright Kirkus Reviews, used with permission.

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