Thursday, November 05, 2009

Profit Versus Society: “They have a duty to be extravagantly generous,” Chartres said of the bankers, “because to those to whom much has been given much will be required.”

“One of the great problems about our civilization is the divorce between public and private life, between fact and value, between the privatization of faith and a public life which sometimes seems can only be organized on the basis of number- based observations.”

SHOOT: The problem is so entrenched I don't see us solving it, I see collapse and conflict as the way this unsustainmable addiction to greed gets broken.
clipped from www.bloomberg.com

“If we leave pay to the free market we give up
responsibility because no one takes responsibility for the free
market,” said Will Campbell-Clause, who works for an
environmental non-profit in London.

Wherever capitalism caused innovation and job creation the
City played a role -- from China to the renewable energy
revolution, said Goldman’s Griffiths, who was an adviser to
former Prime Minister Margaret Thatcher and sits in Parliament’s
upper chamber, the House of Lords.

“These to me are evidence of the good things the City
does,” he said.

Economic growth alone can’t solve inequality, Westminster
Abbey’s Sagovsky said.

“The discrepancy between the wage that cleaners of banks
like Goldman earn and the bankers’ compensation is enormous,”
the canon said in an interview.

“It seems like the bankers aren’t listening to society,”
said Jacob Needleman, a professor of philosophy at San Francisco
State University and author of “Money and the Meaning of
Life
.”
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