There are many forms of giving, but only one that generates general prosperity: capitalism. It does not begin with exchange, but with giving. It is not the state that creates prosperity, but the entrepreneur and businessman. The cause of mass prosperity is individuals, specific people, their actions and their ideas.
Contrary to what inequality researcher Thomas Piketty and his colleagues claim, the gap between rich and poor in the USA has barely widened over the years. The tax data has been misinterpreted. Once again, ideology is pitted against facts.
Inflation is profoundly socially unjust. Its causes lie above all in an expansionary monetary policy, and this must be stopped. If policymakers want to prevent the inevitable recession that will follow, they will only make the problems worse.
Pope Francis never called for a “universal basic income” as a new socio-political model. He asked for financial assistance for those on the margins who have been harmed by the quarantine. Even so, the idea of a “basic income” is only feasible, if at all, in a country with strong protection of property rights and a market economy.
Historically as inequality dissipates the inequalities that remain become intolerable for many. Freedom then becomes seen as an enemy to greater equality. The modern welfare state seeks to establish equality through redistribution, but leaves people dependent and demoralized by their caregivers.
