James Graham’s new West End play The Standard of Living puts economist John Maynard Keynes at the centre of a story about economics, politics, art and personal relationships.
The production is directed by Nicholas Hytner and stars Rory Kinnear as Keynes, with Royal Ballet principal Natalia Osipova playing his wife, Lydia Lopokova. It is being staged at the Theatre Royal Haymarket, with previews beginning on 21 September and the production scheduled to run until 12 December 2026.
The play focuses on Keynes during the period between the First and Second World Wars, when he developed ideas about economic policy and the role of government during periods of severe economic disruption. His work became particularly influential during and after the Great Depression.
Graham’s play also explores Keynes’s connections with the Bloomsbury Group and his relationship with Lopokova. Friedrich Hayek, Keynes’s intellectual rival, is also part of the drama, with economic disagreements forming part of the production’s treatment of competing ideas about markets and interest rates.
The production arrives as Britain prepares for a new political and economic debate around public investment, government spending and economic growth. The Guardian editorial argues that the play’s historical setting has contemporary relevance, although those comparisons are the publication’s editorial interpretation rather than a statement of fact about current policy.
Earlier reporting on the production said Graham wanted to explore Keynes’s life from 1917 until his death in 1946, including his work in government, his links with artists and writers, and his influence on economics and public arts funding.
Keynes was born in 1883 and studied mathematics at Cambridge before turning to economics. His 1936 book The General Theory of Employment, Interest and Money became one of his most influential works and addressed unemployment and economic activity during the Depression era.
The play combines economic arguments with music, dance and relationships. Lopokova’s role also allows the production to connect Keynes’s economic ideas with the world of ballet and the arts.
The Standard of Living is scheduled as a limited West End engagement at the Theatre Royal Haymarket. The production’s world premiere is part of a wider 2026 London theatre season.
Source: The Guardian; The Guardian background report.
