Comment by bigyabai

I'll repeat what the other comment said, since it seems like you were sick for most of your macroeconomics class; you are currently living through the consequences of fictionalization. We did try what you're suggesting, both in America and the UK, and the post-industrial financier economics has the exact same consequences every time.

America is a precise model for what the UK will look like if it shirks liberalization. Here in the US, we've lost almost all of our postwar industrial capacity. We can't ship cost-competitive smartphones or electric vehicles without importing parts from China. We can't mass-produce the things we consume or even export enough to keep out of a trade deficit. Our biggest exports are software services reviled the world over for being surveillance systems installed and moderated by America's government. Our businesses are no longer seen as stable blue-chip stocks, but moonshots and gambling opportunities.

If you actually knew the consequences of a financier economy then you wouldn't wish it on your worst enemy.