The world could have been built in a different way. With the current technology you can have scale and decentralized small businesses.
Large scale capital markets and easy money, is what makes it possible for giga-cap companies to exists. If you trace back through the history of any of the largest companies in the world today, with the approaches they've taken they would have gone bust under a hard money standard.
That is not to say we would have lost the innovation they produced. In fact the opposite may have happened. The innovation might have found it's way into the public domain for every entrepreneur to benefit from.
The fact that mammoth companies are no longer allowed to fail, makes sure the public domain never benefits from their knowledge and innovation.
In the 1800s the railway companies had their boom and bust. They were the giants of their time. They took risk and most failed. Investors got burnt, but the customers were better off in the long run that they did fail. They got the railroads at a discounted price, as the investors took on the losses of their irrational exuberance.
If the investors were all made whole, on the costs of the railway build out, then the customers (or tax payers) would have footed the bill. This is what happens to us today. Through fiat money we all foot the bill of failed investments. The fiat money debasement benefits the investor class the most.
Bad business practices don't get sufficiently punished by the true cost of capital. Small businesses get bought out and made to give worse customer experiences, in order to transfer more of the customers wealth to the investors.