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Does it crowd out private charity?

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Does it crowd out private charity?

Our monetary system?
Yes. The central banks’ measures aim to increase prices by two percent per year. Constant inflation represents an irresistible incentive to take on debt. High debt makes the economy vulnerable to crises. Over time, central banks have therefore taken on the role of an all-powerful bail-out authority that protects the monetary system from collapse. This de facto full insurance commitment from the central banks has led to people leveraging ever larger portions of their savings through borrowed capital and putting them into the financial sector. This means there is less money left for donations. The financialization of society causes private charity to wither.

Also read: That’s why the ECB is targeting two percent inflation

There are always considerations of forcing the production of free goods through state coercion. A compulsory social year for young people, for example, that strengthens social cohesion.
Forcing people to do something is always fundamentally bad. This also applies to the provision of free services. There is only real solidarity if it is based on voluntariness. By imposing a state obligation to provide free goods, people are not trained to be generous, but rather to be obedient.

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