Macro-economics is a study which cannot find the answer to our economic problems so long as it treats private finance as a legitimate money creating business model. So the chant of some macro-economists that neo-classical economics is unreal because it does not include money, debts and private banks…is only 2/3 true.
Why? Because for big ticket items like autos, mortgages and large leveraged speculations the money creation power of private finance….is post retail sale…and yet retail sale is the terminal end of the valid economic/productive process. Hence private finance’s money creating power is an exogenous, parasitical and extremely costly additional set of costs post retail sale.
The only way to remedy this is to keep the money creating power endogenous but publicly distributed. That way the profit motive for finance is able to be eliminated because a government is not an economic institution. And even the costs for finance itself can be eliminated as a sovereign government creates money out of nothing and can directly create and distribute it itself to fund all government services…including loans without interest, universal dividends and rebated credit for discounts at the point of retail sale.
Note: Financial services that do not include money creation could be legitimate retail products.