Faith and the Credit Crunch
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Can religion really comment on economics? Does Christianity have anything relevant to say about the credit crunch?
The G20 meeting in April will be addressing major economic issues. This area is not simply one of political concern but faith leaders have an interest in this arena.
Last month the Church of England Synod hosted Lord Griffiths of Fflorestfach, vice chair of Goldman Sachs. He addressed the Church of Englands parliament on financial crisis in a specially arranged session. Griffiths, a trained econmist and a commited Christian believes that faith can play a integral role in the debate. The former Bishop of Worcester, Dr Peter Selby, agrees. Both Selby and Griffiths argue that religion should be vocal on the subject of economics, the market and regulation.
Furthermore, the recent trend towards protectionism is having a detrimental effect on the Third World. Religious groups have played an important role in highlighting the negative impact of global economic systems on developing countries. Griffiths says “The Church has always been concerned to look after the por, the widow, the stranger and the orphan. It is what the Catholic Chruch calls the preferential option for the poor. People of faith have a responsibility to think about how we alleviate poverty” Therefore religious people do have an important role to play within the arena of economics.
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