Assuming we're talking about the US, printing money and giving it to wealthy people has been a big contributor to the failure of the last few decades. The US has made a broad-scale effort to disable every form of market-based feedback that tried to replace the leadership class with more competent leaders. If they'd stopped with the upper class welfare then the 1% probably would have less money, but giving them the money then organising to tax it away again is a strategy that is both bizarre and unlikely to be effective. It's too complex and arbitrary.

If we're talking globally, Asia ain't failing. They're big on producing lots of real stuff. Minted a lot of new billionaires.