Politics should not be confused with economics.
The central fallacy of our current system is that we equate capitalism with a market economy. One is message and the other is medium.
Markets are cyclical and circular, while people are linear and goal oriented. So while markets need money to circulate, people see it as the signal to extract and store.
As most money functions as a contract, where the asset is backed by a debt, rather than a commodity, storing the asset requires generating the debt.
One way is austerity for the general economy, causing it to run on debt and draw the saved money back into circulation. Which sets up a centripetal effect, as positive feedback draws the asset to the center, while negative feedback pushes the debt to the edges.
Since money and banking function as the value distribution system of society, similar to blood and the arteries, the effect is analogous to the heart telling the hands and feet they don't need so much blood and should work harder for what they do get. The Ancients devised debt jubilees to reset this process, but modern society has managed to outgrow and now borrow from the future, to put off this reckoning. Though that future is fast arriving.
The other prime method is having the government as debtor of last resort. The capital markets could not function, without the government borrowing up trillions in surplus investment money. The secret sauce of capitalism is having public debt back private wealth.
Econ 101 says money is both medium of exchange and store of value, yet a medium is dynamic, while a store is static. Blood is a medium, while fat is a store. Roads are a medium, while parking lots are a store.
The functionality of money is its fungibility. We own it like we own the section of road we are using, or the air and water flowing through our bodies. It is the quintessential public utility and needs to be treated as such. It's not our own picture on it, we don't personally hold the copyrights and are not individually responsible for maintaining its value.
Large deposits of surplus money are extremely dangerous to society, like high blood pressure.
Value has to be stored in less volatile forms.
There isn't the investment potential to save the amounts required for social stability, but we do save for many of the same reasons, so the concept of the commons with eventually have to be resurrected. Likely including forms of local currencies.
This is not socialism, as society needs both private and public spaces, like a house has personal and family space.
Even bodies have resident microbiomes that are not source DNA.
As the executive and regulatory function of society, government was originally private, but as monarchs lost sight of their larger social function, they were usurped. Banking is now having its own, "Let them eat cake" moment.
Not that governemnt and banking can be one, any more than the head and heart are one. Printing excess money is addictive and best kept arms length from politicians.
