A radical and yet not really radical solution is a cooperative or a government Bank. One that doesn't charge interest for certain loan types. It has always seemed stupid to me that our government operates on debt instead of surplus. We have to tax either way but a surpulus would be much less expensive since we would't have to service the debt. It would also be readily availabe in an emergency.
The use of interest bothers me as a concept. On some level it makes sense but on another it is entirely hostile, uncooperative and a drag on creation. Many if not most religious traditions consider interest immoral.
On the notion of a government bank, we should remember that We are our own sovereign in the US. We decide what the law and the rules are. I believe it would benefit us as a nation to have a government bank for things like home loans. That is a national aspiration yes? Universal home ownership would be a big step toward security for our citizens. With that, less hostility and despair. Similarly, with universal high quality health care. That has to be paid for but we, as our own sovereigns, should be able to decide how that happens. It's clear the "free market" has not produced a reasonable system.
What needs to be undone in our thinking is the encroachment of Libertarian "free market" mythology in our popular concept of how our economy works. We don't and can't have "free market" economy. Capitalism inherently drives to monopoly. What Libertarians fail to acknowledge in the open is that Wealth is Power. In the Libertarian fantasy, everyone is equal because "freedom" to make your own deal. Laughable after a nanosecond of consideration. The reality is, in our country, the only peaceful alternative to the Power of Wealth is the Power of Democracy. That is the arena of the real class warfare happening before our eyes. Look at the current Republican efforts, doubling down to suppress the vote. It is not about racism, though that is a tool they use. It is to prevent another Georgia: a formerly red state sent two Progressive senators to Washington. That is the power of Wealth trying to maintain its hegemony over our democracy. It the most important fight we face right now.
A market system in a highly industrialized society can only exist sustainably if it is also highly regulated. In our case, the Libertarian drive to deregulation has created massive wealth inequality, effectively, a serf class and an owner class. I refer to Libertarians as Neo-Feudalists. That is the inevitable end result of their actual policy aims. The Traitor Reagan caused Trump when he declared our sovereignty through our government as "the enemy". That was hideously damaging as it ushered in decades of Libertarian economic/government policy. The ideation of Small government is a ludicrously bad idea. I'm all for efficient and proficient government of the appropriate size. I believe in auditing and performance objectivity. Recognizing though, that government is Not a Business. That is not its aim and not how it should be run.
As part of that regulation, wages Must rise. Work must be valued more highly. But also, as automation increases and AI increases, capital accumulation at the top will increase further while jobs go away. We are heading to a crisis of ownership that will have to be addressed in the next 50 years.
