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Bankers: Should They Spend Time As Monks?

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Church of England Archbishop Justin Welby thinks young bankers would be well served if they spent time as “quasi-monks” before entering the marketplace. In The Telegraph, Welby says that ambitious young people should

…quit work temporarily so they can pray and serve the poor.

He said he believed their natural ambition would encourage them to join his Godly community.

It’s reported that Welby has actually set aside a portion of Lambeth Palace for this initiative, in the hopes that people age 20-35, who are interested in business and finance, will come to study ethics and philosophy before entering the workplace. Welby says this program will not only help those entering the market, but will increase the public’s trust of those involved in business.

He told the best way to combat lack of trust was to teach younger bankers about God, ethics and the poor.

He said: “Failure to change the culture of leadership in the next five years, to a degree that is unimaginable today let alone in 2008, will lead to very serious consequences for the financial services industry in terms of over-heavy regulation and yet more decades of lack of trust.

“A year of really deep reflection on self, on motivation, on the nature of theological anthropology, commitment to the common good and what that means, and service with the poor, is absolutely life-shaping.”

Read “Archbishop: young bankers must learn to pray” at The Telegraph.

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Elise Hilton Communications Specialist at Acton Institute. M.A. in World Religions.

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