This is wrong. There is no evidence "malinvestment" exists at economy scale in any significant way. Money is a government made artificial store of value made t

This is wrong. There is no evidence "malinvestment" exists at economy scale in any significant way. Money is a government made artificial store of value made to make transactions and contracts easier. It has no intrinsic value in itself and it should not artificially keep value at a rate that makes it desirable enough so that it displaces private stores of value, such as private bonds, stocks, commodities, or even buying now what you will need later. It is a sad state that a lot of countries currently let the risk adjusted value of their money have better returns than private market stores of value thus making people invest in fiat instead of in the real economy. This causes unemployment and low productivity. When people, businesses and banks invest in government sponsored fiat instead of the real economy because fiat has a better return, it is a subsidy to economic idleness that jams the private markets. In Europe they desperately need inflation to overshoot a bit to unjam their markets. Otherwise all this idle money that accumulates without sufficient production capacity to back it up will create problems in the future. Idle money that starts chasing few goods is a risk of spikes in inflation, that or painful corrective high interest rates. In general a little overshoot of inflation early in a recession prevents more inflation later by making money less desirable compared to private investments and preventing it from accumulating idly too much.