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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 c
by 0xDEEPFAC 5y 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
- randallsquared 5y agoThe real heyday of this was early 2000s, after Bernanke used it in a speech the first time. Maybe he mentioned it again in 2016?
- joelwilliamson 5y agoBernanke 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 https://en.m.wikipedia.org/wiki/Helicopter_money
- lupire 5y agoAnd Friedman was referring to 1930s Keynsian ideas about stimulus. Keynes's original version was paying people to needlessly smash rocks.
- dataflow 5y agoSeems like it was used earlier than 2016? https://en.wikipedia.org/wiki/Helicopter_money 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.