A world without money creation ?

Hi,

I’ve been wondering about a rather theoretical question: what would a world without continuous money creation look like?

We often hear that some industries wouldn’t be viable without “magically created” money.

For example, in the U.S., shale gas is often presented as unprofitable in the long term, kept alive by massive debt.

The same goes for oil, whose price is artificially low compared to its real costs (energy, capital, risks, impacts).

And it’s not just energy: healthcare, infrastructure, public services… many sectors indirectly rely on deficits funded by money creation.

So my question is:

Does this system still manage to create more overall value?

By making certain resources more accessible (cheap energy, healthcare, transport), individuals and businesses can produce more goods and services, support growth, etc.

In short:

Is subsidizing certain industries through money creation necessarily a bad thing if it leads to economic growth and better access to resources?