I argued last week that New Zealand should again look at printing money to build houses and infrastructure in Auckland and Christchurch. We did it in 1936 and we could again as long as it doesn't create inflation.
It sparked a firestorm of commentary and criticism. Money-printing, or quantitative easing, would have to occur with a range of responses.
First, there's a risk of generating inflation - but only if resources are fully employed. Building houses, bridges, motorways, broadband, water treatment and electricity networks takes all sorts of resources, some imported.
One claim is that a burst of extra spending would boost wages and construction material prices. That is true if there are shortages of skilled tradespeople and a lack of production capacity for materials.
Skill shortages must be addressed, but there is something wrong if we can't train the unemployed. Or we could increase immigration, which would also boost the economy.