Ethical Finance

Recent developments in Dubai have underlined once more the fragility of the financial sector globally. Public confidence in our banking system has been severely dented; those global financial institutions that survived the turbulent autumn of 2008 are still in a state of considerable flux. In the UK and the USA, government bailouts are struggling to jump start the economy; interest rates are at an all-time low; record numbers of businesses are failing; unemployment increases monthly; house prices have declined dramatically and house repossessions are on the rise.

There are many different, albeit interrelated, aspects to the global financial crisis. THese require careful analysis if a correct diagnosis of our ills is to be makde and wise measures taken to stabilise the global economy in a way that provides genuine hope for the future.

In November, St George's House in partnership with Ridley Hall Cambridge, brought together participants from across the financial, faith and academic sectors to explore issues such as The Breakdown of Trust; Reward and Responsibility; Values and Virtues; Credit and Debt; The Shift of Power from West to East; The Change in the Ethos and Practice of Banking; Hope for the Future. A report of the proceedings which were conducted under the House Protocol is available here.