Lord Robert Skidelsky on Keynes
2024-10-23 15:07:00 +07:00 by Mark Smith
Robert Skidelsky, who is a member of the UK House of Lords, was on the Keen On podcast to talk about AI and it’s likely affect on society, how this new age of technology might change the human condition. Tons of interesting topics discussed, but this particular bit about Keynes stood out to me.
What I think you’ve got to bear in mind with Keynes is the distinction that was central to his idea between means and ends. Economics was the means. And economics was the means to get us over the hump of necessity, as quickly as possible, into the realm of freedom. That was the way he would put it.
Now in order to do that you have to have more of less the economy going full blast for some time. Only in that way would you eliminate the scarcity, which is what keeps us away from our utopia. So he wanted a full employment economy, he wanted a growth economy. If we don’t get those, then we are always going to be, sort of…behind. Behind the curve of what he would have liked us to be on. And that’s where we are at the moment.
In many of the podcasts I listen to, a lot of Bitcoin / Crypto shows, they are always banging on about austrian economics, and my impression is there’s a lot of suspicion towards Keynesian economics. I haven’t had any time to get into either at more than a surface level. I wish I had more time. In any case, interesting to hear some good words about Keynesian ideas.
Economic theories aside, I thought much of Robert’s approach to tech, AI and society at large was framed in very relatable ways. I think it’s interesting to hear from folks that think deeply about these ideas, especially when they aren’t spending all thier time in the tech industry themselves. I felt like it was kind of a refreshingly open and roomy perspective. #