Neither loose monetary policy, nor big-spending fiscal policy can grow an economy. All that these policies can do is to redistribute a given pool of real savings from wealth generators toward non-wealth generating activities.
Central bankers like Alan Greenspan seem to think central bankers can be trusted to act with restraint. That's a risky plan, especially given that true and reliable constraints could be put on the money supply by adopting commodity money.
The British opponents of the Corn Laws rightly understood that tariffs and other restrictions on trade are violations of fundamental natural rights, and that they privilege certain entrenched interests at the expense of everyone else.