Providing your clients with full care while providing basic public goods – this promise is no longer able to fulfill. It financially goes to bankruptcy.
More and more citizens are turning away from the political establishment of this country. Some give up, others are fooled by the false promises of his opponents. A look into the future allows you to see the upcoming fall of this country. Has a comparable situation ever existed?
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Indeed, there are some similarities to the fall of the church's authority and finances during the passage from the Middle Ages to modern times. After the fall of the Roman Empire at the end of the 5th century, the Church played an important role in shaping feudalism, contributing to calming society.
Feudałów took care of internal and external safety in their lands, while the Church preached peace. The customs were harsh, but without the church they would probably be even more severe. Feudal power and church created a community of interests.
Corruption and moral fall
However, due to corruption and moral fall – including the sexual orgy in the Vatican for Pope Alexander VI – the Church lost its authority. The growing church bureaucracy and the increasingly sumptuous needs of the clergy became a growing burden for the feudal economy.
Thanks to the sale of indulgences for sins, the church secured additional income. With the help of indulgences, the faithful could “buy” in the afterlife for a certain number of years from Purgatory – both for sins committed and those planned.
Finally, at the beginning of the 16th century, the moods turned against the church. “Reformers”, such as the German monk Marcin Luther, managed to break the monopoly of the Church to mediation in the relationship between the faithful and God.
Not through the indulgences of the Church, but through faith, reading the Bible and direct dialogue with Christ could have been faithful to grace. The Reformation meant a financial disaster for the Church. The broker could be omitted, indulgences became worthless, and the demand for them broke.
The church lost its credibility, and the indulgence papers resembled the bonds of the bankrupt state. The centuries have passed before the church rose from this crisis.
Today, the authority of political elites is falling apart, because the guardianship state fails. Public infrastructure crumbles, external borders can no longer be protected, internal and external security falls. The growing bureaucracy and high taxes bleed the economy.
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Money created out of nothing
The promise to provide care sounds empty, because the care state finances it with a debt, which is increasingly taking the form of money created from nothing. Like the princes of the Church in the late Middle Ages, political elites are now questioned by heretics, and like the Church at the time, now the guardianship state faces bankruptcy.
The loss of authority and the financial crisis did not destroy the Church. But for centuries he lost its former power to impact on society and had to learn to manage limited means.
The care is threatened with a similar fate: first bankruptcy in financial and monetary crisis, and then arduous limiting to financially bearable size. Care benefits will fall to make room for the necessary delivery of public goods. We should prepare for the bankruptcy of the guardianship state.
Thomas Mayer is the director and founder of Flossbach von Storch Research Institute.
The above article is a translation with German portal Welt
