“If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again… there need be no more unemployment and, with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is.”
(John Maynard Keynes, “The General Theory of Employment, Interest and Money”, p. 129)
How is that different from Bernanke’s “helicopter drop” theory?
