Why not Keynes?: Keynes’ uneasy relationship with income distribution – Branko Milanovic

If republished, Milanovic’s recent “Visions of Inequality” should include this piece as a chapter. Much of US economic policy is still premised on Keynesian thinking. Including analysis of consumption at differing income levels in forecasting the impact of Covid stimulus dollars might have helped Congress and the White House better target the money to stimulate demand with less inflationary effects.

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