Of course, but it works in the interest of the oligarchs, so here we are.

I imagine a system where the government just prints cash, would have a whole slew of other problems and issues, and would likely be less stable/viable than the current mess. The current approach has flaws, but if managed properly, remains viable for a long time -- most of the flaws that become existential threats, only show up after years of neglect or willful corruption, such as in the USA.