Modern economy has become too complex and stupid at the same time. There are layers upon layers that contribute nothing to it, yet somehow inflate the valuation

Modern economy has become too complex and stupid at the same time. There are layers upon layers that contribute nothing to it, yet somehow inflate the valuation, and burst from time to time, while a few take full advantage of it. I think it should be possible to radically simplify taxation and law, with the goal of maximizing productivity and minimizing parasitism. The economy would shrink in numbers, but quality of life should generally improve. Bonus points if population growth is not encouraged, but is allowed to find a lower equilibrium. The global economy shouldn't work like a Ponzi scheme.