I think I see the big picture something like this -
The Great Depression was because money couldn’t make enough money investing in the real world.
The real world was stuck on the farm, with food products hitting their demand ceiling.
By 1950 the shift had been made to manufacturing. Investment was worth while, with no demand ceiling in sight.
Today, manufacturing is in the same place as agriculture was a hundred years ago.
On the strict understanding that people will always have to work for their keep … what is to replace manufacturing~?
Something else may turn up, but all I can think of is `services`.
Here we have a problem – Will investing in services ever be `a good investment`~?
I don’t know why not, but I think not.
This means that countries that want to stick with manufacturing and/or capitalism are going to run into a brick wall.
Not everyone can win the export game (and anyone who tries, will be on a race to the bottom, when it comes to wages).
Services must be the way to go … but who will pay~?
The answer must be – the state.
Where will they get the money from~?
The answer must be – the central bank.
States will expand education and health-care sectors and the CB will pay with fresh-air-money.
It could work~!?