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by azth
1588 days ago
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> Since inflation is a centralized operation and Zakat is decentralized Zakat is centralized by the government. > that same mechanism of force could be used to inflate currency. How so? Could you elaborate? > but I don't see much functional difference from inflating the currency by 2.5% and then giving the newly created currency to the poor It's very different because when the government inflates the currency, we all know whose pockets it ends up going into :) |
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I'm going to assume you're from one of the countries mentioned below? It's my understanding most countries with Muslim majority do not centrally enforce Zakat.
>Today, in most Muslim-majority countries, zakat contributions are voluntary, while in Libya, Malaysia, Pakistan, Saudi Arabia, Sudan, and Yemen, zakat is mandated and collected by the state (as of 2015).[16][17]
[wikipedia ^]
>How so? Could you elaborate?
By compelling people to hold wealth denominated in currency, and then inflate that currency using central bank or treasury.
> It's very different because when the government inflates the currency, we all know whose pockets it ends up going into :)
No disagreement here. But government can also misappropriate Zakat. I am actually not in favor of most forms of planned inflation nor a compulsory Zakat precisely in part because I predict massive fraud on the minority of those holding the power to distribute it.