The book deals mainly with two issues. First, why did people believe in the idea of state intervention (or collectivism, as Skidelsky calls it). Second, is state intervention good or bad. I argue that the first part is better than the second.

I am uncertain whether to recommend this book. One the one hand, it is highly readable, the scope is very large, and many of the arguments are important. On the other hand, it is not novel, systematic or rigorous. In sum, this is a good book if you want a relatively short, easy and good overview of some of the issues in modern political economy. However, if you want a complete academic treatment of state intervention your desire is better served by other books.