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Lucrezia Reichlin, Adair Turner, Michael Woodford The COVID-19 pandemic forces swept away some of the conventional taboos in economic thinking, such as the radical idea of helicopter money (Benigno and Nisticò 2020, Cukierman 2020, Galì 2020, Yashiv 2020, Kapoor and Buiter 2020, Velasco et al. 2020). The term uses the fanciful imagery that was originally invented by Milton Friedman (1968). Since the end of the 1990s, Friedman’s idea has received more attention in academia and policy circles.  Precedents to the unprecedented But what we today refer to as ‘unprecedented’ monetary policies can often have historical precedents (Ugolini 2020). In a recent paper (Goodhart et al. 2021), we wonder whether the economic policy implemented during the years 1629-1631, when the Republic of Venice fought first a famine and then a pandemic, can be considered an historical case of helicopter money. In its relationship with the role of the state, money circulation and banking, the Venetia

United kingdomUnited statesFratelli visentiniMilton friedmanCambridge universityFederal reserve bankHealth officePalgrave macmillanRialto bankUniversity of kentGiro bank ugoliniCambridge university pressVenetian senateGiro bankBlack deathLate medieval