Ontological, moral and social foundations of the modern German banking system: economic practice and philosophical heuristics

The paper reveals philosophical principles of the modern German banking system in the context of ontology, ethics and social philosophy. The structural and functional framework of the German banking system is outlined. The paper notes that the modern German banking system possesses a developed and nonlinear structure built on the hierarchical and functional principles. It indicates that the theoretical and methodological basis of the banking ontology in Germany lies in provisions of the pragmatism epistemology. The thesis is substantiated, according to which the essence of banking is implementation of the commercial transactions and receiving the highest economic benefit combined with reduction in the ethical category of justice to the obvious utilitarianism considerations. It is noted that the socio-philosophical foundation for the modern German banking system operation is the welfare state doctrine. The paper demonstrates that the ideal of a welfare state in the context of banking practices includes a set of normative and institutional restrictions caused by an ethically colored desire for the common good and the need to maintain public harmony. Attention is focused on the fact that the social component is immanently built into the essence of banking activities. For example, credit relations are aimed not only at enriching a banking institution, but also at stimulating the entrepreneurial activity and improving quality of the household consumption. The paper concludes that modern German banking operations are developing within the boundaries of a dialectical contradiction between the social burden of banking and the desire of banks to maximize their profits. On the one hand, prudential supervision mechanisms are in place in Germany aimed at combating the uncontrolled enrichment of the beneficiaries to the detriment of the interests of the clients and the society as a whole. On the other hand, banks inevitably strive to accumulate money without linking it to a real growth of the economic benefits.

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