By Karen Shaw Petrou

On November 30, the New York Times ran an op-ed arguing that the Fed could make a big economic-equality difference by becoming, in essence, a giant equity holder on behalf of the nation’s least wealthy.  This concept takes Milton Friedman’s idea of “helicopter money” one step farther, creating “helicopter equity” in hopes of improving long-term wealth accumulation instead of the consumption for which Mr. Friedman wanted his dollars dropped from the sky.  From a progressive-policy perspective, turning the Fed into a giant, redistributive mutual fund has considerable appeal.  Continue reading “Should The Fed Become a “Social Wealth Fund?”” →