New Times,
New Thinking.

  1. Long reads
4 June 2015updated 20 Aug 2015 9:32pm

Amartya Sen: The economic consequences of austerity

The judgements of our financial and political leaders are breathtakingly narrow. Nobel Prize-winning economist Amartya Sen considers the alternatives.

By Amartya Sen

On 5 June 1919, John Maynard Keynes wrote to the prime minister of Britain, David Lloyd George, “I ought to let you know that on Saturday I am slipping away from this scene of nightmare. I can do no more good here.” Thus ended Keynes’s role as the official representative of the British Treasury at the Paris Peace Conference. It liberated Keynes from complicity in the Treaty of Versailles (to be signed later that month), which he detested.

Why did Keynes dislike a treaty that ended the state of war between Germany and the Allied Powers (surely a good thing)?

Subscribe to The New Statesman today from only £8.99 per month
Content from our partners
Wayne Robertson: "The science is clear on the need for carbon capture"
An old Rioja, a simple Claret,and a Burgundy far too nice to put in risotto
Antimicrobial Resistance: Why urgent action is needed