Here’s a YouTube video of Steve Keen being interviewed by the BBC in which he describes a plan for debt relief. Instead of banks being bailed out, money would be distributed to the population on a per-capita basis.
For Adam Smith, “Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.” Banks and financial traders have other ideas. They are now running a parallel economy in which money makes money out of money. The volume of this trade is ten times the volume of trade in goods and services, and traders extract money that other mortals can’t possibly aspire to. No wonder it causes havoc.