We give unmerited cover to neo-liberalism in particular, and liberalism in general, by insisting there is a difference between a "financial" economy and the "real" economy.
There is a difference.
The financial economy is an intermediary layer between producers and consumers.
The big change is the emergence of direct "Peer to peer" connections. This is about to change the game IMHO and will disintermediate what is now an unnecessary layer. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
The requirement is still there for providers of financial services. But as value adding partners, not as value extracting middlemen.
It's a market approach: but it's a market operating on a "Not for Loss" basis, rather than "For Profit". There is no "Profit" and no "Loss" within a partnership framework. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
