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Can “helicopter money” save the global economy?

The time may come for such a programme but it is not today

By Megan Greene  

Image: Friedman Foundation for Educational Choice

The term “helicopter money” has been bandied about a lot in recent weeks as a mechanism to pay for the expensive rescue packages that governments have launched in response to coronavirus. But helicopter money is an old concept, first mooted by famed monetarist and adviser to Ronald Reagan and Margaret Thatcher Milton Friedman in 1969, and popularised in late 2002 by then Federal Reserve Chairman Ben Bernanke as a potential solution to Japan’s lost decade of low inflation…

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