By Larry Elliott, Rowan Williams Archbishop of Canterbury
During the continuing worldwide monetary quandary, a scarcity of ethical and moral management in society has been uncovered. the main Reverend Rowan Williams, Archbishop of Canterbury and Larry Elliott, The mum or dad , compile their ideas at the problems with ethics and morality in company, with contributions from major company figures.
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Extra resources for Crisis and Recovery: Ethics, Economics and Justice
By this he did not mean nationalization. Socialization of investment need not exclude “all manner 48 INVESTMENT AND PUBLIC POLICY IN A GLOBALIZED ECONOMY of compromise and devices by which public authority will cooperate with private initiative”. 24 A steady stream of public investment would reduce the domain of uncertainty to modest dimensions. Such investment would not necessarily be proﬁt-maximizing. But provided it yielded positive returns, there would be a gain. If markets had perfect information, public investment would be inefﬁcient.
Which is itself a characteristic of the market mentality: everything can be measured and thus replaced by something of equivalent signiﬁcance as far as material proﬁt and security are concerned. Paying the right kind of attention to the corruptions of language in our age is inseparable from attending to the corruptions of our economic exchanges; and it is no less of a religious obligation. In sum, faith educates us at the same time in dependence and in the authority of the giver; and in our current climate, this particular balance is one of the hardest to achieve.
4. R. Sennett, The Culture of the New Capitalism, Yale University Press, 2006. 34 2 INVESTMENT AND PUBLIC POLICY IN A GLOBALIZED ECONOMY Robert Skidelsky WHY KEYNES? At the heart of Keynes’s remedy for the deep ﬂuctuations in the capitalist economy was a large and continuing role for state investment. 1 These were the two deﬁnite policy proposals of the book. The General Theory was not about policy. It aimed to provide an explanation, in terms of fundamental theory, of persisting underuse of potential resources, especially labor.