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''Masters of Money'' is a 2012 British documentary series produced by the

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. The programme premiered on BBC Two from 17 September to 1 October 2012 and is presented by

Stephanie Flanders Stephanie Hope Flanders (born 5 August 1968) is a British economist and journalist, currently the head of Bloomberg News Economics. She was previously chief market strategist for Britain and Europe for J.P. Morgan Asset Management,Open University The Open University (OU) is a British public research university and the largest university in the United Kingdom by number of students. The majority of the OU's undergraduate students are based in the United Kingdom and principally study off- ...

worked in partnership with the BBC to produce the series. The series explores the lives of

John Maynard Keynes John Maynard Keynes, 1st Baron Keynes, ( ; 5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in ...

Friedrich Hayek Friedrich August von Hayek ( , ; 8 May 189923 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, legal theorist and philosopher who is best known for his defense of classical liberalism. Haye ...

, and

Karl Marx Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, economist, historian, sociologist, political theorist, journalist, critic of political economy, and socialist revolutionary. His best-known titles are the 1848 ...

, and their influence on modern

economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...

. Keynes is known for

Keynesian economics Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output a ...

and as an early pioneer of macroeconomics, Hayek is part of the

Austrian School The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian schoo ...

of economics, and Marx is known for

communism Communism (from Latin la, communis, lit=common, universal, label=none) is a far-left sociopolitical, philosophical, and economic ideology and current within the socialist movement whose goal is the establishment of a communist society, a ...

and the theories that are collectively called

Marxism Marxism is a left-wing to far-left method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialectical ...

. Flanders speculates how each would have reacted to the 2007–2012 global economic crisis, and what they would have proposed to resolve it. The series consists of three episodes, each an hour long. The first episode, ''Keynes'', premiered on 17 September 2012, the second episode, ''Hayek'', on 24 September, and the third and final episode, ''Marx'', on 1 October.

Reception

John Crace's review of the first episode for ''

The Guardian ''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Gu ...

'' was largely positive, stating that "Flanders pitched it just about right; enough rigour to make it worthwhile, not too much jargon to make it a snooze." He praised Flanders' presenting and enthusiasm for the subject, commenting that she was "the ideal guide to an hour's night in front of the TV," but was disappointed by the lack of any discussion on "whether economics is a scientific subject with any predictive value." Tom Sutcliffe of ''

The Independent ''The Independent'' is a British online newspaper. It was established in 1986 as a national morning printed paper. Nicknamed the ''Indy'', it began as a broadsheet and changed to tabloid format in 2003. The last printed edition was publish ...

'' wrote that programme was a "clever, responsive bit of commissioning," but was critical of the "impartiality" of the series. Flanders' reluctance as a journalist to take a stance on the economic theories covered leaves the viewer, according to Sutcliffe, "more knowledgeable but just as confused as before." File:Keynes 1933.jpg,

File:Friedrich Hayek portrait.jpg,

File:Karl Marx 001.jpg,

References

External links

* * {{IMDb title, id=2387452, title=Masters of Money 2012 British television series debuts 2012 British television series endings 2010s British documentary television series BBC television documentaries about history during the 18th and 19th centuries BBC high definition shows 2010s British television miniseries English-language television shows BBC television documentaries about history during the 20th Century BBC television documentaries about history during the 21st Century