Few things. For one, it is long past time we started to talk about public banking, and having public banks controlled by citizens, not politicians. Secondly, modern corporations are inefficient, internally authoritarian and often profit by creating costs that are then passed off onto others. Society at large or particular individuals and companies. Worker-owned cooperatives, credit unions, municipally, state, county and federal public enterprises, we need to take a look at institutional alternatives. Alternative institutions that are place-based, as well as directly accountable to the populace. We have to address ownership of enterprises in this economic system at some point, especially given that place-based enterprises wouldn’t ship production elsewhere and other institutions allow for more democracy and transparency. Last thing, finance has grown relative to the underlying economy. Finance’s share of domestic profits around the time that Reagan took over was less than 10%. Leading into the crash, it was approaching 40%. It went down after the crash but is rising again. Finance’s product is debt, and private debt has exploded since Reagan. Private debt is much larger than public debt, and it has grown at a much quicker rate than public debt. If we are ever going to move away from a debt based economy and go towards an economy based on producing things (in an environmentally sustainable way), then the debt overhang on the economy will make a good, functioning and equitable economy impossible. This is compounded by what the WTO requires, as well as trade agreements like NAFTA and bilateral trade agreements, which make both financial regulation and public enterprises really difficult.
If it isn’t obvious, radical changes are needed, and they’re needed now. Any politician in either party that takes finance’s money and does their bidding is the enemy of working people, and the domestic economy too.