Friday, March 5African Business News
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Tag: CBNGDPJohn MortonRaphael Nonsenso

CBN’s free meal and rising fiscal complacency

CBN’s free meal and rising fiscal complacency

Finance
No penalty on earth will stop people from stealing if it is their only way of getting food,” says Raphael Nonsenso in Utopia. This, according to Thomas More, the author of the 1,516 fictional work, was a response of Nonsenso, a Portuguese traveller, during a dialogue with the Archbishop of Canterbury, John Morton, wherein the former argued that cash hand-outs could reduce theft in the city of Antwerpa. Cash handout is an easy escape for an individual who is in desperate need of a means of survival. But as the old economic maxim – no free meal – suggests, every decision or option necessarily comes at a cost to the giver, the society or both. The one who gives suffers the opportunity cost of the money he parts with. But that is tolerable compared to the moral burden it leaves on t...