FaithWorld

Ethics angle missing in financial crisis debate

traders

Worried Wall Street traders watch stocks fall on September 29, 2008/Brendan McDermid

In the ongoing financial crisis debate, many people think that unrestricted subprime loans, credit default swaps, astronomical bonuses, huge bank bailouts and other aspects of today’s economy are somehow unfair or wrong. This issue is not only economic or political, it’s also about ethics and morality, these people think. But that view doesn’t get traction in our political discourse. Asking the big question about what is right/fair or wrong/unfair is not really debated. Sure, there are contrary views on this and any debate would be long and lively. But it doesn’t really happen.

Some moral issues do get traction in politics. Look at abortion or same-sex marriage. The forces on both sides of this argument have considerable clout (at varying levels, depending on the country). They hold heated debates over ethical  principles such as the sanctity of human life, the freedom of individual choice or the principle of equality. But those are questions that are not primarily about the economy. When money gets thrown into the equation, there is much more of a tendency to let the market decide. What’s not illegal can’t be unethical, this view seems to argue.

So it was refreshing to find the Citizens Ethics Network in London standing up and asking why we’re not asking these questions. I’ve just run an article on this which starts as follows:

The debate about fixing the financial crisis seems to be missing a key factor — a broad ethical discussion of what is the right and wrong thing to do in a modern economy.

Hindu wins battle for funeral pyre in Britain

Davender Ghai outside of Britain's High Court in London, 18 Jan 2010/Toby Melville

Davender Ghai outside of Britain's High Court in London, 18 Jan 2010/Toby Melville

A devout Hindu declared himself “overjoyed” on Wednesday after winning a court fight to be allowed to be cremated in Britain on an open-air funeral pyre.

Spiritual healer Davender Ghai, 71, was granted his last wish by the Court of Appeal which ruled the controversial ceremony could be carried out without a change in the law, which prohibits the burning of human remains anywhere outside a crematorium.

Church of England laments drop in UK religious TV programmes

A shopper looks at televisions in central London 2 March 2005/Toby Melville

A shopper looks at televisions in central London 2 March 2005/Toby Melville

The Church of England voted on Wednesday to express “deep concern” about a drop in religious programmes on British television but drew back from solely targeting the BBC for criticism.

The Church’s General Synod, or parliament, had been asked by one of its members to pinpoint the publicly funded BBC for marginalising religion and treating religious shows on its non-core channels as “freak shows..”

But the synod instead voted on an amendment which expressed its “deep concern about the overall reduction in religious broadcasting across British television in recent years.” The member, Nigel Holmes, a former BBC producer, brought a private motion accusing the BBC of preferring natural history and gardening programmes to religious output, saying some in broadcasting assumed that religion lost audiences.

Climate change debate spurs warm feelings in London

china-climateIt is rare that religion and science find agreement, but that is what happened when Britain’s Chief Rabbi Jonathan Sacks spoke at a meeting on saving the earth from climate change.

“The great Harvard biologist E.O. Wilson published a book in 2007 called “Creation”, subtitled An Appeal to Save Life on Earth,” Sacks told leaders of all the major faiths meeting at Lambeth Palace in London on Thursday. (Photo: A partially dried reservoir in Yingtan, Jiangxi province, China, 29 Oct 2009/stringer)

“I thought that was a very good book. E.O. Wilson is known not to be religious, but what this book was was a call to religious people and scientists to call off the war between religion and science and work together for the sake of the future of life on earth.

Philanthropy outlook upbeat, but not for religious charities

oxfamPhilanthropy does not seem to have been hit by the global economic downturn. Contrary to some initial fears after the stock market plunge last year, giving by the rich to charitable causes seems to be rising as younger donors get more active in the field. But the report by Barclays Wealth, the wealth management arm of the British bank, says faith-based charities face falling donations because they’re not in step with this new generation of philanthropists.
(Photo: donation box in London Oxfam shop, 2 Dec 2008/Simon Newman)

The report, entitled Tomorrow’s Philanthropist, is upbeat about charitable giving based on the bank’s survey of 500 “high net worth investors in the UK and US.” As it said in a summary of the report: “Despite the global downturn, three quarters (75 per cent) have not decreased their contributions, whilst more than one in four (26 per cent) have increased their giving in the last 18 months.”Buried in the report is a sobering angle for churches and religious charities: “The future is less certain for the traditional recipients of charitable donations, such as the arts and religious organisations. On balance, high net worth donors stated that these causes had become less important to them over the past ten years, and that this trend would accelerate over the next decade if the causes in question failed to engage in a meaningful way with the next generation of givers.”In a report graphic, religious charity seems set for the biggest reduction in donations, -16%, while health and medical charities should see a +58% rise in gifts. The other losers are the arts (-14%) and animal causes (-6%) while the number two and three growth leaders are children (+41%) and environment (+35%).These results could be skewed by the sample group that Barclays Wealth used. The report did not analyse the expected drop in faith-linked donations any further, so it’s not clear whether a wider survey of donors below the report’s rarified donor group might show better support for religious charities.Do any readers have recent information about how religious charities are doing in the downturn? (UPDATE: please read the first comment below for more information on this)Here is the PDF file of the report and Barclay Wealth’s summary of it. Below is a short video on it by Hayley Platt of Reuters Television. Since video clips are short and reports like this long, the report’s main points are copied below the video.The report’s main points are:• We are at the beginning of a new age of philanthropy – A new breed of wealthy philanthropists is emerging who are more socially aware and more motivated to give back to the communities they came from, as well as global causes.• The wealthy are still giving despite the downturn – The recession has failed to dampen philanthropic spirit; the commitment of those who already give will remain resolute, and some wealthy individuals are actually increasing the levels of their funding in order to ensure that their charitable goals are met.• The wealthy will play an increasingly important role, compared to governments, in funding welfare projects – The recession will potentially increase the role of the wealthy philanthropist on a broad basis, as governments around the world become more constrained in the causes they can fund. High net worth givers will become an invaluable source of innovation and investment for charities.• The wealthy prefer to fund projects directly – Respondents increasingly feel that they can make a bigger impact and drive change more effectively by giving directly to charities, rather than supporting causes indirectly through taxation.• High net worth donors are becoming increasingly active philanthropists and now seek to solve rather than simply to support – Historically, high net worth individuals have donated money and time to charities to support their endeavours. Now, however, the wealthy are far more ambitious in their philanthropic aims and are wanting to see visible or measurable change.• The worlds of charity and business are converging – Smaller, nimbler and more accountable charities are becoming increasingly attractive to donors compared to the large, traditional charities. This will have a knock-on effect and in the future, we will see the emergence of more commercial ventures which have a philanthropic aim at their core.

Oldest Christian Bible made whole again online

codex

The surviving parts of the world’s oldest Christian Bible were reunited online on Monday, generating excitement among biblical scholars still striving to unlock its mysteries. The Codex Sinaiticus was hand written by four scribes in Greek on animal hide, known as vellum, in the mid-fourth century around the time of the Roman emperor Constantine the Great who embraced Christianity.

Not all of it has withstood the ravages of time, but the pages that have include the whole of the New Testament and the earliest surviving copy of the Gospels written at different times after Christ’s death by the Four Evangelists: Matthew, Mark, Luke and John. The Bible’s remaining 800 pages and fragments — it was originally some 1400 pages long — also contain half of a copy of the Old Testament. The other half has been lost.

Read our full story here. And consult the Codex here. (Photo: Part of the Codex Sinaiticus at the British Library in London 3 July 2009/Kieran Doherty)

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