If you create and distribute money only in the apex of the
wealth/power pyramid, it can only benefit the few rather than the many.
There are numerous debates about money: what it is, how we measure it, and so on.
In recognition of these debates, I'm referring to "money" in quotes to
designate that I'm using the Federal Reserve's measure of money stock
Nowadays, "money" is often credit. We buy stuff not
with currency/ cash, but with credit extended by lenders. The government
pays for its programs with borrowed money as well, by selling sovereign
bonds and spending the proceeds.
So to get a rough measure of the expansion of "money," we look at money stock and total credit.
There's a third measure: GDP, or gross domestic product. As money and credit expanded, did GDP go up, too? By how much?
GDP is also a flawed measure of value and activity, but once again
we'll use it as the conventional measure of economic "growth."