The elephant in the room is that money is the contract enabling society, not a commodity to mine from it.
It makes an effective medium of exchange, but lousy store of value. As the asset is backed by a debt, our national religion of accumulating money requires an economy drowning in debt to support it.
Could Wall St. function, without the government siphoning up trillions in surplus investment money? No. The secret sauce of capitalism is that public debt backs private wealth.
Austerity is also essential, as it causes the economy to run on debt, drawing saved money back into circulation. Creating a centripetal effect, as positive feedback draws the asset to the center, while negative feedback pushes the debt to the edges. The Ancients used debt jubilees to reset this dynaamic and sustain society, but we lack that degree of perspective.
Blood is a medium, fat is a store. Roads are a medium, parking lots are a store. The hallway is a medium, the hall closet is a store. The average 5 year old gets it, but economists manage to look the other way.
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's not our picture on it, we don't hold the copyrights and are not individually responsible for maintaining its value. It's quintessential public utility.
There simply isn't the investment potential to save what we think necessary, but we do save for many of the same reasons, so the concept of the commons will eventually be resurrected.
Which isn't socialism, as society needs both public and private areas, like a house has family and personal spaces.
As the system of circulating value around society, money and banking are analogous to blood and the circulation system.
As government, the executive and regulatory function, is analogous to the central nervous system.
There was a time when government was private, but as monarchs lost sight of the function they served, they were usurped. Banking is now having its own, "Let them eat cake." moment.
