|Cathedral closed until further notice|
'A strange power and fascination' - good and bad money debated at St Paul's
08 May 2013
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In his address, Lord Skidelsky looked widely at the work of economist John Maynard Keynes and said: "It is not money itself, but 'love of money' which, according to the Bible, is the root of all evil. Money is simply a servant of our wants. It is the wants themselves which need scrutiny.
Joining Lord Skidelsky on the panel to discuss the role of Good Money in the City, were Tarek El Diwany, Senior Partner at Zest Advisory LLP; Ann Pettifor, Director of PRIME (Policy Research in Macroeconomics); and Paul Sharma, Deputy Head of the Prudential Regulation Authority. The event was chaired by Stephanie Flanders, BBC Economics Editor.
All panel members responded to the initial address before the audience was asked to contribute questions.
Good Money was the second of three debates under the topic,The City and the Common Good: What kind of City do we want?
Organised by St Paul's Institute, in conjunction with CCLA, investment manager for charities, churches and local authorities, the series of debates under the dome of St Paul’s Cathedral seek to stimulate public dialogue on the role of the financial sector in society today.
Canon Mark Oakley, Chancellor of St Paul’s Cathedral, said of the series: "The former Archbishop of Canterbury often reminded us that the
word economy has its origins in the word for housekeeping. A household is somewhere where life is lived in common, an attempt to stabilize
that common life into an environment where its members grow and flourish in useful ways and where the vulnerable members are protected. It
is that common life, of wanting to bring back conversation to the structure of economic life with an intelligent and fearless scrutiny
about our choices and long-term goals, that is at the heart of this series.”
Tweets from the debate can be viewed under the #CommonGood hash tag.
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