Community post
Bitcoin and Subsidiarity
According to the principle of subsidiarity, "a community of a higher order should not interfere in the internal life of a community of a lower order, depriving the latter of its functions, but rather should support it in case of need and help to co-ordinate its activity with the activities of the rest of society, always with a view to the common good."
Families, communities, and individuals should do for themselves what they can (e.g. education), while governments and bureaucracies should only do what families, communities, and individuals are not capable of on their own (e.g. defense of a nation).
Until 2009, we had to rely on the government and big banks to be able to transact with one another. Our trust was in Uncle Sam and the almighty USD.
Bitcoin changes everything.
For your taxes, there's USD.
For everything else, there's Bitcoin.
Replies (2)
I like this notion: the "principle of subsidiarity." Did you coin this phrase or do you know its origin?
From what I know, Roman Catholic Pope Pius XI spoke about the principle in one of his writings in the early 1900s.