Debate on money and ethics, St Pauls' Institute

[peterv]

I found this a fascinating debate. It touches on many of the things we have discussed at our meetups - ethics of usury, creation of money "out of nothing", Islamic banking etc.

Chaired by Stephanie Flanders, it was held in St Pauls' in London, and includes a keynote speech by Lord Skidelsky, author of an award-winning biography of Keynes.

The whole thing lasts 90 minutes, and is well worth watching. It includes numerous references to Positive Money (including a mis-representation by Ann Pettifor of NEF who ought to know better!)

www.youtube.com/watch?v=Qh8Lz70aCss

[ash]

My complaint against our system has simply been how unethical it is, so this debate heartened me considerably. Let's have more conversations like this! To my mind we need to somehow find a way of encouraging each other to treat the stranger like we'd want to be treated ourselves. Such an attitude would naturally disdain usury... and for that matter, all forms of financial manipulation and enslavement .

But, like asking warring children to be kind to each other, it is easier said than done. In such a situation we often create a "loaded environment", setting artificial penalties to make certain behaviours deleterious. I'm not opposed to regulation per se, but rules themselves do not make children kind or considerate. Better to show them how they'd both benefit from not fighting.

I think the success of this corrupt and unethical banking system over several hundred years is its ability to stifle the moral debate and legitimise their position by convincing people that to do well in life requires us not to share, but to compete. So I wonder whether the main antidote is to re-educate each other to understand that being fair and considerate to everyone is liberating and rewarding in itself.