Keynes, Family Allowances and Post Keynesian Anti-Poverty Policy

Steven Pressman ()

No 525, LIS Working papers from LIS Cross-National Data Center in Luxembourg

Abstract: This paper updates and extends my earlier work (published in the June 2007 issue of the Journal of Economic Issues on how the middle class fares throughout the world. Wave #6 data from the Luxembourg Income Study, recently released and centered around 2004, provides an opportunity to assess what has happened to the size of the middle class around the world in the early 2000s. In contrast to the 1980s and 1990s, there was no noticeable decline in the middle class during the early 2000s. The paper provides further evidence that the size of the middle class in each nation depends mainly on government tax and spending policies. In particular, it shows the key role played by family allowances and paid family leave in supporting a national middle class.

Pages: 31 pages
Date: 2009-12
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Published in Review of Keynesian Economics 2, no.4 (2014): 508–526

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