The economy has become fantastically complex. Any simplistic solution won’t work. One reason that it took so long for the industrial revolution to take place is because there was, by definition of the gold standard, only a small amount of currency in circulation. It wasn’t until fractional reserve banking and programmed-in inflation that enough money existed to build the worldwide infrastructure necessary for the growth surge our worldwide civilization has experienced under the American hegemony. To get where we are today took the entire world to be under one leader, the USA, with effectively one currency, the dollar. Unfortunately, the capitalism model depended on an ever-increasing population to provide the market for the goods produced and free access to the entire rest of the world as a market. The population of the developed world is in collapse due to several factors, among which are urbanization, a successful attack on technology by “the Greens” and the collapse of the West’s desire to spend their blood and treasure to maintain global peace. Anyone who thinks we are going to resolve these huge systemic problems by simply going back to the finance model of the fifteenth century is not seeing the larger picture.
Hopefully, those responsible have their bags packed.