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Skidelsky, Robert

n Robert Skidelsky, a member of the British House of Lords, is Professor emeritus of political economy at Warwick University, author of a prize-winning biography of the economist John Maynard Keynes, and a board member of the Moscow School of Political Studies.

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2 articles of this author have been cited in the European Press Review so far.

Financial Times - United Kingdom | 31/10/2008

Robert Skidelsky on Russia in times of financial crisis

Commenting on the financial crisis in Russia, the renowned economist Lord Robert Skidelsky argues in the Financial Times that Russia needs to regard itself as an emerging economy and lower its geopolitical ambitions in order to win back the confidence of the markets. "The Russian stock market has lost 70 per cent of its value this year. The commodity prices that spearheaded its boom are now falling. The easy credit money from the west that fuelled it has now fled. Russia has failed to diversify its economy and its politics have long made investors nervous. A confrontation with reality is long overdue. ... Russia carries a heavy burden of political risk. This is the real economic legacy of the Putin years. Mr [Vladimir] Putin [former Russian president] does not understand the need for a degree of consistency between economic and foreign policy: or rather the reconciliation he has sought has been based on Russia's energy windfall. If this has now ended, as seems likely, the key assumption of his politics – that Russia can use its energy power to boost its world power without paying much attention to the sensitivities of anyone but the Russian electorate – has been destroyed. ... Russia needs to scale down its geopolitical ambition to its real weight – that of an emerging economy with only 3 per cent of the world's gross domestic product and a quarter of America's living standard ...The Putin era is over but [President Dmitry] Medvedev's has not begun. This is the real Russian crisis."

Cyprus Mail - Cyprus | 13/03/2008

Robert Skidelsky on the moral vulnerability of markets

In an article posted on Project Syndicate and published bu several European dailies, Robert Skidelsky, professor of political economy, notes that "today, there seems to be no coherent alternative to capitalism, yet anti-market feelings are alive and well. .. Because no social system can survive for long without a moral basis, the issues posed by anti-globalisation campaigners are urgent. ... The market economy is sustained by the stimulation of greed and envy through advertising. In a world of ubiquitous advertising, there is no natural limit to the hunger for goods and services. ... While the market today has no serious challenger, it is morally vulnerable. It has become dangerously dependent on economic success, so that any large-scale economic failure will expose the shallowness of its moral claims. The solution is not to abolish markets, but to re-moralise wants. The simplest way of doing this is to restrict advertising. This would prune the role of greed and envy in the operation of markets, and create room for the flourishing of other motives."

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