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a tool of unconventional monetary policy that has been proposed as an alternative to quantitative easing when interest rates are close to zero and the economy remains weak or enters recession; popularised by Milton Friedman in the form of dropping money on the ground (from a helicopter), though he didn't intend it as an actual policy

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helicopter money

The idea of giving money directly to people to boost growth was put forward in a famous 1969 article by Milton Friedman, who used the parable of scattering dollar bills from a helicopter for the public to pick up. 'Helicopter money'--printing money to distribute to the public--has been proposed by American bond investor Bill Gross and by the economics journalist Martin Wolf, among others.

—p.102 The Economic Arguments (95) by Guy Standing
4 years, 12 months ago

What remains to be tried is helicopter money, a half-serious Milton Friedman recipe for stimulating a sluggish economy with sure-fire monetary means: throw money from helicopters, so people can pick it up and go shopping, and all will be fine.

—p.xlii Preface to the Second Edition (vii) by Wolfgang Streeck
4 years, 11 months ago

the last bullet of monetary policy, and perhaps of policy generally, would be dishing out ‘helicopter money’ to citizens, perhaps by sending each taxpayer a cheque of, say, $3,000, circumventing the banking system in the hope that this would, finally, result in a take-off of effective demand

footnote 25

—p.19 Introduction (1) by Wolfgang Streeck
4 years, 11 months ago