Money creation is surely and simply to keep up with the volume of goods and services in the economy? If we didn't create money we'd have deflation (prices would

Money creation is surely and simply to keep up with the volume of goods and services in the economy? If we didn't create money we'd have deflation (prices would drop year on year). The interesting side of things is really about the different ways money is created and where it goes. Money created through lending is paid back, it's ultimately backed by consumption or investment. Money created through QE is more onerous and can lead to financial repression instead of deleveraging of an overleveraged economy. I don't see why you tie this to infrastructure projects. Infrastructure projects are funded by government because it's government who can reap taxes to pay for them. It's government who can coordinate huge projects on a state scale, compulsory purchase land, and regulate and ensure fair access, etc etc. The alternative of thousands of miles of private roads and tolls would be hell. Monetary vs fiscal intervention is definitely important. If the government wants to go spend $1T on research and development or infrastrucmture for the next 100 years, fine. But a lot of what's been happening over the last 13 years is just robbing savers (lower savings and pension annuity rates) and driving inequality (the rich leveraging up)