Hacker News new | ask | show | jobs
by 0xDEEPFAC 1890 days ago
When Bernanke made the speech in 2016 where he invented the idea of a helicopter dropping money it was pretty much instantly a meme... everyone in the finance community knew about it because of how ridicules it sounded
2 comments

Seems like it was used earlier than 2016? https://en.wikipedia.org/wiki/Helicopter_money

> The name "helicopter money" was first coined by Milton Friedman in 1969, when he wrote a parable of dropping money from a helicopter to illustrate the effects of monetary expansion. The concept was revived by economists as a monetary policy proposal in the early 2000s following Japan's Lost Decade. In November 2002, Ben Bernanke, then Federal Reserve Board governor, and later chairman suggested that helicopter money could always be used to prevent deflation.

The real heyday of this was early 2000s, after Bernanke used it in a speech the first time. Maybe he mentioned it again in 2016?
Bernanke used it in a speech for the first time in 2002, but it was coined back in 1969 by Milton Friedman.

https://en.m.wikipedia.org/wiki/Helicopter_money

And Friedman was referring to 1930s Keynsian ideas about stimulus. Keynes's original version was paying people to needlessly smash rocks.