Posts tagged with: Brian Griffiths

Christian churches in the West have been focused on redistribution of income rather than the creation of wealth, says Brian Griffiths in this week’s Acton Commentary.

Through much of the post-war period in the West, the formation of economic policy was dominated by Keynesian activism on the part of governments seeking an increasing role in providing public services, reducing material poverty, and reshaping income redistribution.

In the United States, President John F. Kennedy launched the New Frontier program and his successor, President Lyndon Johnson, soon after embarked on what came to be called the Great Society. In both cases, emphasis was placed on increasing the role of the state in order to solve problems of poverty and destitution. In intellectual terms, the economist John Kenneth Galbraith made the case for trade unions and government becoming “countervailing powers” in capitalist economies in order to check the power of large corporations. In Britain, Harold Wilson nationalized various industries, developed a national plan, a comprehensive prices and incomes policy, and extended the scope of the welfare state. Across the Channel and Rhine, the Social Democrat Willy Brandt was a major influence in extending the role of government in social policy throughout West Germany.

The full text of the essay can be found here. Subscribe to the free, weekly Acton News & Commentary and other publications here.

Since your wallets are probably a bit lighter due to Tax Day here in the United States, Acton wants to help out by giving you a free e-book: Globalization, Poverty and International Development. Just follow the link, Globalization, to get our monograph from Lord Brian Griffiths delivered free to your Kindle or e-reader. This offer is available beginning at 3 a.m. EST, 4/17/12 until 3 a.m. EST, 4/19/12.

 

Commenting on how Pope Benedict XVI addressed the economic crisis and development challenges in “Caritas in Veritate” is Lord Brian Griffiths of Fforestfach, a member of the British House of Lords and Vice-Chairman of Goldman Sachs International. He has served in an advisory capacity to the Acton Institute and delivered published papers on globalization and Third World development at the Institute’s international conferences.

Click here for the original article appearing in The Times.

July 13, 2009
The Times

Pope Benedict is the man on the money

The best analysis yet of the global economic crisis tells how people, not just rules, must change.

By Brian Griffiths

When Cardinal Ratzinger was elected Pope, his strengths and weaknesses seemed clear. Here was an eminent theologian, philosopher and guardian of Christian truth, but a man unlikely to make the Church’s message relevant to the world today. How simplistic this now looks in the light of his third encyclical, in which Pope Benedict XVI confronts head-on the financial crisis that has rocked the world.

The language may be dense, but the message is sufficiently rewarding. The encyclical analyses modern capitalism from an ethical and spiritual perspective as well as a technical one. As a result it makes the Government’s White Paper on financial reforms published two days later look embarrassingly one-dimensional and colourless.

It is highly critical of today’s global economy but always positive. Its major concern is how to promote human development in the context of justice and the common good. Despite heavy competition from some of the world’s finest minds, it is without doubt the most articulate, comprehensive and thoughtful response to the financial crisis that has yet appeared. It should strike a chord with all who wish to see modern capitalism serving broader human ends.

The Pope makes it clear that the encyclical takes its inspiration from Populorum Progressio, the encyclical published by Paul VI in 1967, at the height of anti-capitalism in Europe. It attacked liberal capitalism, was ambivalent about economic growth, recommended expropriation of landed estates if poorly used and enthused about economic planning. (more…)