[Re: End of quantitative easing will stop mad monetary recycling, Friday]
It’s not a new development that a religious leader is worrying about sin in business. Did Jesus not throw the moneylenders out of the Temple? Yes, stockbrokers don’t tend to wear hair shirts and traders don’t tend to spend their mornings in chapel. But, as this article points out, that doesn’t make them sinful or immoral. The issue is that, regardless of the few years the new archbishop spent in the oil industry, he doesn’t really understand the valuable contribution that finance makes to both the broader economy and to individual lives. We shouldn’t sneer at him. We should encourage him to learn more.
The banking crisis, and its associated bailouts, have made the financial services industry of relevance to everyone. Regardless of what they are, the new archbishop’s views on banking do matter.
[Re: America is failing to face up to the truth behind its looming fiscal cliff, Friday]
From the sounds of this article, America is not alone in failing to come to terms with the reality behind its near-bankruptcy. Given the state of Britain’s debate on austerity, many people here don’t realise that we could also fall over the edge unless we get a handle on out of control government spending.
The new archbishop of Canterbury is a former oil executive, but is now an opponent of corporate excess.
It’s disgraceful this government is slashing aid to India. How will the country fund its space exploration programme?
UK aid to India will end just before India overtakes Britain in terms of total GDP – in 2016.
According to the OECD, China’s economy will be larger than the combined Eurozone economy by the end of this year.