>> Ultimately, printing money doesn't make anyone more productive or produce anything. That statement is easily refuted by running it backwards: say reducing t

>> Ultimately, printing money doesn't make anyone more productive or produce anything. That statement is easily refuted by running it backwards: say reducing the amount of money in circulation via a huge once-off tax would thus have no impact on productivity which of course is silly. >> If it's OK to print money to pay for some things why are you not doing it more? Why not make everyone a millionaire? if drinking water is good, isnt drowning even better? Creation of money either by expansion of private debt or governments running a current account deficit have always had the effect of goosing GDP figures. The 'free money' the central bank is creating is merely nominally swapping out the value of private-debts for equivalent nominal government debts. The money-creation is the net difference between the two and not equivalent to a blanket cheque.