This was consistent with long-held views; in 1948 he argued that governments should rely solely on printed money to finance their regular cyclical deficits.

This is the Keynsian’s favorite Friedman monetary recommendation. In fact, John Maynard Keynes put forward a similar idea in 1936, but he urged people to dig up bottles filled with money.

Looking at the shape of the economy, maybe it is time to consider direct cash payments to citizens. Does anyone doubt that if the $20 trillion or so dollars the Federal Reserve has given to the banks in the 2008-09 bailout, the virtually no interest loans for 3 years and the subsequent QE’s (Qualitative Easings) had been given directly to the people (except, of course, the 1 percent) the economy would be better off today? That the economic collapse would be behind us?