‘Entertainment value’ or ‘a colossal yawn’
Theatre Royal Haymarket

There was a striking divide between critics who loved James Graham‘s new play about John Maynard Keynes, and those who merely admired it. The majority found Mr Graham’s attempt to corral Keynes’ role in the country’s economy, his complex love life and his passion for the arts into one coherent whole didn’t quite come off. All applauded James Graham’s writing but there was a contrast between those who embraced his wide-ranging subject matter and those who thought it ranged too wide (‘there is too much ground to cover in the space of the play’ BroadwayWorld; ‘a colossal yawn’ The Stage) but some were more than happy (‘combines entertainment value … with a stimulating survey of the Cambridge economist’s life, times and interventionist ideas’ Telegraph; ‘The entire production is a plea for the value … of lives that are full of something more than the day-to-day grind’ WhatsOnStage ). Rory Kinnear as the multi-faceted Keynes was a hit for most critics (‘excels’ The Times). Bob Crowley‘s set was praised (‘ravishing’ Guardian) but there were mixed reactions to Nicholas Hytner‘s direction which included dance (‘slick, stylish’ LondonTheatre; ‘stolid and sterile’ The Stage). Other actors, particularly Royal Ballet principal Natalia Osipova making her stage acting debut (‘wit and charm’ FT), were praised.
[Links to full reviews are included but a number are behind paywalls and therefore may not be accessible]
4 stars ⭑⭑⭑⭑
The Telegraph’s Dominic Cavendish was enthusiastic, saying it: ‘combines entertainment value (for starters, gags about how you pronounce his name) with a stimulating survey of the Cambridge economist’s life, times and interventionist ideas. With slick direction from Nicholas Hytner, a winningly clipped but charismatic star turn from Rory Kinnear as the suited and sainted “father of macroeconomics”, and an entrancing “straight” debut from Royal Ballet principal Natalia Osipova as Keynes’s Russian ballerina wife, Lydia Lopokova, it’s incredibly timely, inviting us to ponder Keynes’s legacy as we face a fiscal black hole.’
WhatsOnStage’s Sarah Crompton was enraptured: ‘Graham clearly loves and admires Keynes, and Kinnear creates an unforgettable portrait of a man who bestrode his times with a gentle modesty that belied his cleverness. But the play’s lesson for today isn’t only economic. The entire production is a plea for the value of beauty, of art, of dance, of lives that are full of something more than the day-to-day grind. That was Keynes’ greatest lesson: it is important to know how to live as well as how to spend. This is art about the importance of art and is both uplifting and hopeful.’
Marianka Swain reviewing for LondonTheatre enjoyed her evening: ‘Keynes’s ideas are best expressed dramatically when he has an opponent, the Austrian economic Friedrich Hayek. They don’t quite enter into Hamilton-esque rap battles, but one of their duels is dynamically staged as a tango (choreographed by James Cousins). Nicholas Hytner’s slick, stylish production also makes clever use of sliding panels which swoop in with archival photographs and striking period artwork (set by Bob Crowley and projections by Luke Halls). Rory Kinnear brings typically deft nuance to Keynes’.
The Standard’s Nick Curtis called it a ‘joyfully Stoppardian if overstuffed new play about economics, art, sexuality and how to live a good life.’ He revealed: ‘I loved the sweep and brio of it, the epigrammatic wit and the zing of ideas, the compassion and love of human life that underpins a play that’s about worth not value. Nicholas Hytner’s sparely staged production features a stealthily compelling central performance from Kinnear as Keynes, magnetic though socially awkward and stiffly academic. Former Royal Ballet principal Natalia Osipova reveals ravishing comic timing – as well as faultless turns and leaps in dance interludes’.
3 stars ⭑⭑⭑
Dominic Maxwell of The Times was definite: ‘It’s no classic. Graham hasn’t found the form to turn so much content into a drama with a compelling hook. The great Hytner often just seems to be doing his best to keep a large cast organised (and sometimes dancing) as we skip forward from 1914 to Keynes’s death in 1946 and, briefly, beyond.’ He had mixed feelings about the star: ‘The contained Kinnear struggles to convince as Keynes the offbeat loverman (…) Kinnear excels, however, as Keynes the man arguing against the laissez-faire economics that dominated, Keynes the godfather of the welfare state.’
The Guardian’s Arifa Akbar was complimentary: ‘There is typically for Graham, dextrous storytelling and accessibility of ideas. Bob Crowley’s set design is little short of ravishing with its moving screens of art and archival footage.’ However, ‘The drama has a slightly static quality despite the twirling red-and-white feathered dancers of the Ballets Russes and its slick movements through time. It seems essentially like a biographical trot through Keynes’s life, made with fondness and admiration for the man – but perhaps not enough of what lies beneath the surface.’
The Financial Times‘ Sarah Hemming found: ‘some of the play feels overly diffuse. Graham and Hytner bring great sweep and drive to establishing the extraordinary facts about Keynes’ life: we watch him shuttle between grey Whitehall and the bohemian Bloomsbury Group. We witness him argue passionately against the punitive terms of the Treaty of Versailles and push for economic intervention during the Depression. We see him with male lovers, then falling unexpectedly for Lopokova (played with wit and charm by Osipova). Throughout, Kinnear beautifully conveys the contrast between his character’s buttoned-up exterior and his buzzing, creative mind.’ She delved deeper: ‘The whole thing moves like a dance, with ideas, people and politics swirling in and out of the spotlight. Bob Crowley’s sleek design of sliding geometric panels suggests a world in flux. But, despite droll work from Pip Carter as Lytton Strachey, Thomas Flynn as Grant and Naomi Frederick as Virginia Woolf, the episodic structure becomes unwieldy and prevents deeper engagement with any of them.’
Time Out’s Andrzej Lukowski also thought Mr Graham had bitten off more than he could chew, but ‘even when he’s not at his absolute best dramatically you’ll still come out of one of his historical dramas having learned a lot.’ He conceded: ‘It is still pretty damn good: nobody brings the past to life with the verve of Graham. It is, to be fair, almost certainly the most enjoyable play about an economist ever written. Kinnear is a delight as Keynes, who combines starchy Victorian gent, idealistic Boy Scout and sexually liberated bohemian in equal measures’.
Aliya Al-Hassan of BroadwayWorld agreed: ‘despite Graham’s adept writing, there is too much ground to cover in the space of the play; Keynes and the Bloombury Group; Keynes as the economist and his rivalry with Austrian economist Fredrich Hayek; Keynes as an art and culture lover. All fascinating individually, but impossible to really delve into sufficiently in the time given.’ Like other reviewers, she complimented various actors: ‘ Natalia Osipova makes a solid and convincing acting debut as his wife, Russian ballerina Lydia Lopokova, often using movement to convey more than her words.’ And ‘Laurie Kynaston is excellent as rival Hayek, showing huge admiration for Keynes, but also unafraid to contradict him totally. The dialogue between Kynaston and Kinnear is sparkling.’
2 stars ⭑⭑
The Independent’s Alice Saville was emphatic: ‘James Graham’s play about a pioneering economist is about as dull as a pessimistic audience member might fear (…) In an attempt to make this man sexy rather than stodgy, Graham and director Nick Hytner have layered on all sorts of added excitements. Royal Ballet principal Natalia Osipova pirouettes between scenes, resplendent in red feathers, and there is no end of bisexual shenanigans. But it’s not enough to drag this tale out of lecture theatre territory.’
The Stage’s Sam Marlowe also thought The Standard of Living was sub-standard: ‘Graham fails to pull off his usual adroit blend of sparkling perspicacity and lively, engaging drama; and what’s more, Nicholas Hytner’s production is uncharacteristically stolid and sterile, making this a disappointing double whammy (…) It’s irredeemably dry and ultimately, I’m genuinely sorry to say, a colossal yawn.‘
Critics’ average rating 3.2⭑
Value rating 33 (Value Rating is a combination of the critics’ rating and the typical ticket price)
The Standard of Living can be seen at Theatre Royal Haymarket until 12 December 2026. Buy tickets directly from standardoflivingplay.com
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