Growth requires private saving first, then investment and then production. It cannot be accomplished through sheer credit and credit expansion. Money is not wealth.
Archived from the live Mises.tv broadcast, this lecture by Danny Sanchez was presented at "How Does an Economy Grow? A Seminar for High School and College Students". Special thanks to an anonymous donor for making this event possible.
How an Economy Grows and Why it Doesn't by Irwin Schiff can be found here.