Frenetic economic activity in service of other frenetic economic activity cannot, by itself, be taken as a reflection of quality-of-life improving growth.
Suppose that subsidies lead to the price of Ubers falling close to zero, with drivers also being incentivized to drive more to support the (artificial) increase in demand -- artificial because it is driven by subsidies funded by new money creation. Traffic increases and in response, new roads are built.
Suppose that subsidies lead to the price of Ubers falling close to zero, with drivers also being incentivized to drive more to support the (artificial) increase in demand -- artificial because it is driven by subsidies funded by new money creation. Traffic increases and in response, new roads are built.