Polanyi helps us to go beyond both Smith and Marx. Rather than focusing on which activities are inside or outside the production boundary, today we can work to ensure that all activities–in both the real economy and in the financial sector–promote the outcomes that we want: if the quality and characteristics of an activity in question help deliver true value, then it should be rewarded for being inside the boundary. Policymakers must be emboldened to broker ‘deals’ that generate symbiotic public–private partnerships. In the case of finance, it would mean favouring long-term investment over
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