Lastly, far from playing a supporting role to the productive economy, finance has come to dominate it. In many countries, a small financial elite—based in just a handful of banking and financial firms—controls the public good of money creation and profits handsomely from it, while too often destabilising much of the wider economy in the process. It is time to turn this upside-down scenario the right way up and redesign finance so that it flows in service of the economy and society. Such a redesign also invites a rethink of how money could be created—not just by the market but by the state and
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