I like your analysis elsewhere. But you can’t avoid misallocations always. Some risk has to be taken by everyone. Even the private markets miscalculate roi.
You also can’t avoid debt (printing money). At the simplest, you can tell yourself you will postpone your own retirement to take the risk of misallocating resources yourself, for a gamble.
That's true, but market misallocations do eventually correct (recessions). Government mandated misallocations can go on for decades without anything to naturally check them.
I'm not sure what you mean in your second paragraph. Keeping the monetary base stable is eminently possible.
You also can’t avoid debt (printing money). At the simplest, you can tell yourself you will postpone your own retirement to take the risk of misallocating resources yourself, for a gamble.