Economics

Let Wages Take Off, Not 'Helicopter Money'

Boosting government salaries would help growth more than direct stimulus would.

She needs a pay rise, not a chopper.

Photograph: YOSHIKAZU TSUNO/AFP/Getty Images

Helicopter money is back in the headlines amid speculation that Japan may turn in desperation to the final chapter of the handbook of unconventional monetary policy. But there's an alternative to handing consumers a one-time payment in the hopes they'll spend it: Give them a permanent wage hike instead.

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