Helicopter money could take flight

I have been thinking a lot about helicopters lately. Mostly this is down to the regular reminders to Santa not to forget to bring a helicopter, with doors that open and close and a rescue boat.

Partially it’s down to the increasing debate that is taking place on helicopter money, which is not something you give to Fisher Price.

Helicopter money is a concept originating with Friedman, but in fact going back to the Keynesian bottles in mines idea. Keynes noted the fiscal stimulus that would come from the state burying money in disused mines while Friedman mused on the effects if the central bank could simply drop money from helicopters. A good reasonably non-technical discussion on helicopter money is here. In both cases, output rises.