Tomorrow afternoon I'll be at 'Bonus vs Pro Bono', the second in a series of Renegotiating 'value' seminars organised through Faiths in London's Economy. This seminar seeks to explore the value of inspirational leadership in business and will be held in the St Martin's Hall at St Martin-in-the-Fields (Trafalgar Square, London WC2N 4JJ) between 4.00 and 6.30pm.
The Renegotiating 'value': what faiths offer 21st century business leadership seminar series aims to explore the benefit and challenge of faith traditions in leading sustainable businesses. A blog for the series containing information, presentations and discussion can be found at http://renegotiatingvalue.blogspot.com/.
Here are brief biographies of the speakers at tomorrow's seminar, Peter Hyson (Change Perspectives Ltd) and Baroness Uddin:
In the book Alice’s Adventures in Wonderland, a confused Alice seeks directions from the Cheshire Cat. “That depends a good deal on where you want to get to," says the Cat. "I don't much care where - " Alice replies. "Then it doesn't much matter which way you go," retorts the Cat. "-- so long as I get somewhere," Alice adds as an explanation. "Oh, you're sure to do that," says the Cat, "if only you walk long enough." In one sense, that might summarise Peter Hyson's life and career to date! For much of it, he’s not necessarily been totally clear where he’s been heading. He’s not one of those people who while they were still in short trousers fixed on a goal in life and single-mindedly pursued it until it was grasped and held aloft in a triumphant fist! The middle distance has often only emerged slowly out of the very definite mists of time. More specifically, that’s manifested itself in his work as a professional swimming coach, a senior teacher, a Church of England vicar, in working with the most senior leaders in leadership development and managing change and, more recently in writing novels and scripts and in TV production. A Handbook for Coaching with Meaning and Spirituality is currently with Routledge. And throughout all those areas, people have been grappling with the question that so perplexed Alice: the area of spirituality, quest for meaning and the drawing to something or someone outside of and greater than ourselves.
Baroness Uddin was the first Muslim woman in the House of Lords. Born in Bangladesh and brought up in England, she is an advociate of social reforms and equal rights. A formidable champion for women, Lady Uddin was invited to the House of Lords in 1998 for her contribution to the advancement of women's and disability rights. She began her professional and political career in the 1970's, in the East End of London, developing a number of leading edge and well-regarded services and organisations. Many of these have since come to be accepted as benchmarks for sustainable development and community engagement. Baroness Uddin has served on the Government's Select Committee on European Affairs and has chaired several Government task forces, under the auspices of the Prime Minister's office, the Home Office and the FCO. She also chaired the Government's Taskforce on Ethnic Minority Women Councillors.
The seminar costs £5.00 (pay on the door) and you would be very welcome if you are able to come. Renegotiating ‘value’ is a seminar series organised by Faiths in London’s Economy (FiLE) in association with: Ethos HumanCapital; Faith Regen Foundation; The Grubb Institute; Mission in London’s Economy; the SmithMartin Partnership; St Ethelburga’s Centre for Reconciliation & Peace.
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Jakob Dylan - Holy Rollers for Love.
Showing posts with label st ethelbergas. Show all posts
Showing posts with label st ethelbergas. Show all posts
Wednesday, 3 November 2010
Saturday, 28 March 2009
Shared Faiths Response to the Credit Crunch (3)
Faiths in London’s Economy (FiLE) has facilitated a process for preparing a shared faiths response to the credit crunch which calls for: non-interest bearing transactions; mutual societies; business accountability to a wider range of stakeholders than shareholders alone; transparent and ethical business practices; and recognition of the role that artists and communities play in generating real wealth.
FiLE's 'Shared Faiths response to the Credit Crunch' can be read by clicking here.
The overall process that has produced this shared faiths response is one that has included people from the Christian, Hindu, Islamic, Jain and Jewish traditions in addition to representatives of faith-based and inter-faith organisations.
We hope that our modest efforts will be a small part of a much wider process of reflection and restructuring needed to genuinely respond to the issues raised by the credit crunch.
People of faith form a huge constituency, can motivate people to action and are also part of rooted communities which in some instances are beginning to plan for greater economic resilience.
As such, FiLE believes that people of faith should make their contribution to the current search for means of ameliorating the financial and environmental misery experienced around the world, in part because of the effects of the credit crunch.
Our wider hope is that London will lead in adaptations and changes to a restructuring of the global economy that will in future become focussed on a broader understanding of wealth than monetary gain and economic growth alone and do so in a way that maintains and develops it’s social, ethnic and faith diversity.
The 'Shared Faiths response to the Credit Crunch' originated in the ‘Ethics in a global economy’ seminar held at St Ethelberga’s Centre for Reconciliation and Peace and organised by FiLE in October 2008. A call for a shared faiths perspective on the credit crunch to be developed emerged clearly from the seminar and FiLE undertook to try to facilitate that process.
Two meetings to discuss a shared faiths response were held and two draft documents circulated to a group of interested people for comment. The overall process has included people from the Christian, Hindu, Islamic, Jain and Jewish traditions in addition to representatives of faith-based and inter-faith organisations. One organisation making specific contributions to the document was Green Equity.
FiLE aims to work with the range of faith communities across London in order to create coordinated faith-community responses to the issues facing London's economy.
As a new network, our first initiative has been to begin to map faith-based business organisations across London and to share the information we have found with others through listing faith-based business organisations and resources on our webpage at http://www.mile.org.uk/file.htm. As this listing grows, it will offer employers and employees a one-stop shop for faith-based business organisations and resources available in London.
Secondly, as part of raising awareness and removing misconceptions about faith-based business initiatives, we have begun a seminar series on faith and workplace issues. This series began by considering ‘Ethics in a global economy’ in a seminar held at the St Ethelburga’s Centre for Reconciliation and Peace on 29th October 2008.
-------------------------------------------------------------------------------------
Stacie Orrico - (There's Gotta Be) More To Life.
FiLE's 'Shared Faiths response to the Credit Crunch' can be read by clicking here.
The overall process that has produced this shared faiths response is one that has included people from the Christian, Hindu, Islamic, Jain and Jewish traditions in addition to representatives of faith-based and inter-faith organisations.
We hope that our modest efforts will be a small part of a much wider process of reflection and restructuring needed to genuinely respond to the issues raised by the credit crunch.
People of faith form a huge constituency, can motivate people to action and are also part of rooted communities which in some instances are beginning to plan for greater economic resilience.
As such, FiLE believes that people of faith should make their contribution to the current search for means of ameliorating the financial and environmental misery experienced around the world, in part because of the effects of the credit crunch.
Our wider hope is that London will lead in adaptations and changes to a restructuring of the global economy that will in future become focussed on a broader understanding of wealth than monetary gain and economic growth alone and do so in a way that maintains and develops it’s social, ethnic and faith diversity.
The 'Shared Faiths response to the Credit Crunch' originated in the ‘Ethics in a global economy’ seminar held at St Ethelberga’s Centre for Reconciliation and Peace and organised by FiLE in October 2008. A call for a shared faiths perspective on the credit crunch to be developed emerged clearly from the seminar and FiLE undertook to try to facilitate that process.
Two meetings to discuss a shared faiths response were held and two draft documents circulated to a group of interested people for comment. The overall process has included people from the Christian, Hindu, Islamic, Jain and Jewish traditions in addition to representatives of faith-based and inter-faith organisations. One organisation making specific contributions to the document was Green Equity.
FiLE aims to work with the range of faith communities across London in order to create coordinated faith-community responses to the issues facing London's economy.
As a new network, our first initiative has been to begin to map faith-based business organisations across London and to share the information we have found with others through listing faith-based business organisations and resources on our webpage at http://www.mile.org.uk/file.htm. As this listing grows, it will offer employers and employees a one-stop shop for faith-based business organisations and resources available in London.
Secondly, as part of raising awareness and removing misconceptions about faith-based business initiatives, we have begun a seminar series on faith and workplace issues. This series began by considering ‘Ethics in a global economy’ in a seminar held at the St Ethelburga’s Centre for Reconciliation and Peace on 29th October 2008.
-------------------------------------------------------------------------------------
Stacie Orrico - (There's Gotta Be) More To Life.
Saturday, 28 February 2009
Faith & Finance
Earlier this week I was at the Faith & Finance event organised by the Christian Muslim Forum at St Ethelburga's Centre for Reconciliation and Peace. It was interesting primarily for the speakers as opposed to being an event at which there was a great deal of opportunity for input to the issue. I was there together with Dr. Husna Ahmad representing FiLE and circulating copies of our draft 'Shared faiths response to the credit crunch.'
The main speakers were Sadiq Khan, Stephen Timms and the Archbishop of Canterbury. Sadiq Khan emphasised the importance of the faiths voices being heard and said that global challenges need global responses which meant that all groups need to be able to contribute. He highlighted the value of generosity in faith traditions and the sense of security that faith communities provide for their adherents.
Stephen Timms repeated the mantra that international problems need international solutions and suggested that a new collaborative approach to tackling social and environmental challenges could be shaped by civil and religious society. He spoke of this as a Global New Deal involving: sustainable recovery through fairness, stability, growth and jobs; action to stimulate global demand; new regulatory structures; action to address tax evasion; and reform of the IMF and World Bank. The G20 meeting later this year which wil be hosted by the UK provides and opportunity to begin addressing this agenda.
Rowan Williams answered questions from delegates before making three points about principles and values. First was the importance of keeping promises based on our belief in a faithful divinity. Faithfulness and trustworthiness are fundamental. Second was the idea of the world as gift; that we are living in a world that does not belong to us. As a result, our desires do not define what is good, the material world is to be respected and the world is not wholly under our control. The earth is the Lord's. Finally, the idea that what is good for us is to do with connection. My flourishing and yours belong together. Individualism undermines ethics.
The value of the meeting was not solely in its keynote speakers. Alex Cobham from Christian Aid highlighted the way in which money is taken from developing economies for shareholders in the developed world through the use of tax havens by businesses. £160bn is lost to the developing world annually through tax evasion. Mohammed Amin suggested that we need a better understanding of the reasons why people into debt in order to challenge such behaviour. John Madely spoke about the theology of 'enough' suggesting that we have been addicted to growth and need to learn to live within the limits of available resources. He spoke about 'shalom' as the harmony of a caring community informed at every point by God. Faizal Manjoo contrasted Islamic law with Roman law and said that three key factors in the credit crunch - contracts, high interest and gambling - were forbidden in Islamic law. Finally, Mark Speeks proposed that covenantal theology could provide a relational basis for just or moral banking.
A Church Times report on the event can also be found by clicking here.
------------------------------------------------------------------------------
The Beatles - Taxman.
The main speakers were Sadiq Khan, Stephen Timms and the Archbishop of Canterbury. Sadiq Khan emphasised the importance of the faiths voices being heard and said that global challenges need global responses which meant that all groups need to be able to contribute. He highlighted the value of generosity in faith traditions and the sense of security that faith communities provide for their adherents.
Stephen Timms repeated the mantra that international problems need international solutions and suggested that a new collaborative approach to tackling social and environmental challenges could be shaped by civil and religious society. He spoke of this as a Global New Deal involving: sustainable recovery through fairness, stability, growth and jobs; action to stimulate global demand; new regulatory structures; action to address tax evasion; and reform of the IMF and World Bank. The G20 meeting later this year which wil be hosted by the UK provides and opportunity to begin addressing this agenda.
Rowan Williams answered questions from delegates before making three points about principles and values. First was the importance of keeping promises based on our belief in a faithful divinity. Faithfulness and trustworthiness are fundamental. Second was the idea of the world as gift; that we are living in a world that does not belong to us. As a result, our desires do not define what is good, the material world is to be respected and the world is not wholly under our control. The earth is the Lord's. Finally, the idea that what is good for us is to do with connection. My flourishing and yours belong together. Individualism undermines ethics.
The value of the meeting was not solely in its keynote speakers. Alex Cobham from Christian Aid highlighted the way in which money is taken from developing economies for shareholders in the developed world through the use of tax havens by businesses. £160bn is lost to the developing world annually through tax evasion. Mohammed Amin suggested that we need a better understanding of the reasons why people into debt in order to challenge such behaviour. John Madely spoke about the theology of 'enough' suggesting that we have been addicted to growth and need to learn to live within the limits of available resources. He spoke about 'shalom' as the harmony of a caring community informed at every point by God. Faizal Manjoo contrasted Islamic law with Roman law and said that three key factors in the credit crunch - contracts, high interest and gambling - were forbidden in Islamic law. Finally, Mark Speeks proposed that covenantal theology could provide a relational basis for just or moral banking.
A Church Times report on the event can also be found by clicking here.
------------------------------------------------------------------------------
The Beatles - Taxman.
Thursday, 5 February 2009
Developing a shared faiths response to the credit crunch (2)
This draft document originated in the ‘Ethics in a global economy’ seminar held at St Ethelberga’s Centre for Reconciliation and Peace and organised by FiLE in October 2008. A call for a shared faiths perspective on the credit crunch to be developed emerged clearly from the seminar and FiLE undertook to try to facilitate that process.
Two meetings to discuss a shared faiths response have been held and a wider group of faith representatives (including people from the Christian, Hindu, Islamic, Jain and Jewish traditions) have commented on the document as it has developed.
The document is now in its final stage of development and we are asking for final comments and an indication from all those who have been part of the process as to whether they are content that it represents a shared faiths response. Comments on the document and indications of support or lack of support should be sent to jonathan.evens@btinternet.com.
1. Wealth means more than money
‘Wealth’ is all that human beings receive from others and from the world in which we live. So, shelter, clothing, our abilities, social institutions, our cultures, the Arts, our relationships, the environment are all ‘wealth.’ In most faith traditions, these are seen as divine gifts.
The creativity of human beings means that we develop means by which we utilise and distribute wealth. Money is one such means of wealth utilization and distribution, among many others (such as education or manufacturing), and becomes problematic when pursued in isolation from other means of utilization and distribution. One factor in the current crisis is that money has been treated as wealth and the value of money separated from any tangible reality. Derivative trading is, for example, trading not just in intangibles but in the reflection of intangibles and then reckoning wealth in those terms.
One small example of the broader understanding of wealth that we advocate is that surveys of Londoner’s levels of happiness consistently show that a characteristic of boroughs where Londoners experience the highest levels of happiness are those with an inbuilt lung of creation in the form of the river and parks. Epping Forest has traditionally operated in this way for Eastenders while we also note that those who are financially rich tend to spend their money on art and culture. It may be that, as a result, we should measure Gross National Happiness like Bhutan; a country where this measure signals an attempt to build an economy based on spiritual (in this case, Buddhist) values.
2. The value of work
Work is valued in most faith traditions, even to the extent that in some human beings are seen as co-creators with the divine. The work ethic is seen as a noble endeavour in many faith traditions e.g. Sufi’s divide the day into work, worship and rest.
Hard work and creativity are valuable but are they always appropriately directed? We need to differentiate between the value of the work ethic and appropriate kinds of work. Not all work is appropriate or ethical therefore the value of the work ethic and of human creativity can be dissipated in work that is inappropriate or unethical.
Practices such as profiting from the process of charging and paying interest and lending what you don’t have which have been exposed by the credit crunch would seem to fall into this latter category. We should value productive work but are often divorced from the fruits of our labours.
We all tend to assume that paid employment is the natural means for gaining wealth but, as people of faith, we consider that this assumption disconnects us from divine or natural generosity. Society needs work done and a financial incentive is one way to get it done, but that doesn’t mean that work should be the only or main source of the wealth that we need. The credit crunch may provide an opportunity to consider alternative options, such as a Citizen’s Income.
3. Concerns about credit
The Hebrew Scriptures forbid charging interest to a fellow Jew while the Qur’an forbids charging interest and encourages trade and trade-type banking arrangements. Instead of credit-based banking systems, we commend trade-type banking and the approach of mutual building societies and credit unions. We need banks for current and savings accounts and for business loans, we need building societies (preferably mutual ones), and we need insurance (a legitimate pooling of risks); but the rest, we really don’t need and it should be shut down.
4. Structures of greed
Western economies have been inflated through greed, with their economic make-up being based on self-centred acquisition. Economic and political systems tend to be based on immediate profitability not long-term benefits. As a result, much of what we do makes no logical sense. Why, for example, do we sacrifice quality time by working hard in order to have quality time while on holiday or why do we drive to a gym in order to get on a walking machine?
Concerns regarding our economic systems are also to do with transparency. Many faiths reflect on light and dark and how bad things happen in the dark where actions can be hidden. Much of what has brought about the credit crunch has been hidden from view and from scrutiny. Transactions have been divorced from human interaction and have therefore been unregulated. Banking practices have taken place ‘in the dark’ hidden by technicalities. In the light of public scrutiny these practices have been found wanting. This is not about scapegoating but about the need for transparent practices.
5. The god of growth
Western economies have been predicated on unlimited growth and this has caused harm to the environment. Developing countries are using the same model. Many natural, God given resources are running out because we have exploited that which we have been given instead of stewarding and sharing them. The argument about whether oil and gas supplies have peaked or not remains unresolved but we are certainly running out. The failure of those two resources would impact on every aspect of our lives and would produce far greater misery that the 'credit crunch', as will climate change. We can’t ignore these wider issues most especially that of climate change.
6. Loss of relationships
There is a breakdown in the relational aspects of the economy. Exchanges are occurring in virtual space, trust is being lost and we need to return to our roots in relationships. Practices such as profiting from the process of charging and paying interest and lending what you don’t have led to banks no longer trusting each other and no longer lending to one another. In the past, there was a degree of trust in the markets summed up in the phrase ‘my word in my bond.’ It is important to work together in cooperation. There are also social consequences in terms of social cohesion arising from the credit crunch.
7. Support for developing economies
We should look for methods of ameliorating the financial/environmental misery that continues and develops around the world. Developing countries are using the same model of economic growth as the West despite the harm that it has caused to the environment. Economies throughout the world need rebalancing in the direction of wealth creation: education; the care of the vulnerable; manufacturing, creative and cultural industries; renewable energy; and agriculture.
8. Time for reflection and restructuring
There can be a sense of hope in this crisis; the credit crunch can be seen a watershed opportunity and not a catastrophe. A year ago people weren’t having the kind of conversations we are having today; that, in itself, is a positive change. Perception is vital in what is understood as being economically viable.
Some faiths, but by no means all, understand periods of suffering as part of a developmental process. We need to reflect on our experience of suffering and look for causes (i.e. underlying economic fundamentals). There may be natural causes but these may also have personal implications to which we will need to respond. Reflection and action go together. For example, a recent survey found that 25% of respondents are praying or meditating more as a result of the credit crunch.
Not all faith communities think that suffering is ennobling and there can be a polarization around concrete political change versus inner personal change. Both are needed in dialogue, both are on the same spectrum of responses.
We need to reflect on the values that we share. The economy has spiralled a long way from real valuations. We need to link personal, moral and spiritual values with economic values.
It may be that we are at a point in time (like that at the end of the Second World War which led to the development of the UN and the Universal Declaration of Human Rights) which will produce new structures for society. For example, the free market has been shown to be unable to provide its own banks without these being propped up by Government funds. We may be in a moment in time when recession, the credit crunch and the ecological crisis are combining to bring about profound shifts in the global economy.
If we are looking at a restructuring of the global economy, then we could see the economy rebuilt in terms of a broader understanding of wealth with new kinds of jobs (i.e. renewable energies, creative industries, and community empowerment) forming its foundation. Such a restructuring could also provide space for addressing the ecological crisis. Ecology cannot be divorced from economics. For example, the costs of extraction and replacement of the world’s natural resources has in the past been excluded from company accounts but its inclusion would provide a very different picture of the effects of the global economy on the environment.
9. Constituencies for action
People of faith form a huge constituency and can motivate people to action. People of faith are also part of rooted communities (e.g. local authority areas) which in some instances are beginning to plan for greater economic resilience. People of faith need to be party to these debates and summits. We have allowed those in power to use the argument that faith is essentially private and not public. The consequence has been that our views are marginalised. This paper is one small means of reclaiming that public dimension for our faiths.
There is no quick fix but, together, we have a vast constituency, one large enough to start sowing seeds of change. We should look for methods of ameliorating the financial/environmental misery that continues and develops, around the world. A proactive assertion is needed from faith communities to argue for non-interest bearing transactions, mutual societies not shareholders, and recognition of the role that artists and communities play in generating real wealth. All faiths offer ways of being that are conducive to human flourishing.
10. London, a melting-pot for change?
London has developed as the ultimate world city - in part because of the widespread use of the English language and our location between the New York, Middle East and Far East stockmarkets, especially Hong Kong and Tokyo – and this is something to be valued and celebrated. London’s position has been as the financial capital of the world. Market forces and financial institutions are at the heart of London’s economy and it is the market that is London which has given the city its social, ethnic and faith diversity. How will this change as a result of economic restructuring? Will London adapt and will it maintain its inclusivity as it does so?
Our hope is that London will adapt and change to a restructuring of the global economy that is focussed on a broader understanding of wealth than money gain and economic growth alone and do so in a way that maintains and develops it’s social, ethnic and faith diversity.
-----------------------------------------------------------------------------------
The Clash - London Calling.
Two meetings to discuss a shared faiths response have been held and a wider group of faith representatives (including people from the Christian, Hindu, Islamic, Jain and Jewish traditions) have commented on the document as it has developed.
The document is now in its final stage of development and we are asking for final comments and an indication from all those who have been part of the process as to whether they are content that it represents a shared faiths response. Comments on the document and indications of support or lack of support should be sent to jonathan.evens@btinternet.com.
1. Wealth means more than money
‘Wealth’ is all that human beings receive from others and from the world in which we live. So, shelter, clothing, our abilities, social institutions, our cultures, the Arts, our relationships, the environment are all ‘wealth.’ In most faith traditions, these are seen as divine gifts.
The creativity of human beings means that we develop means by which we utilise and distribute wealth. Money is one such means of wealth utilization and distribution, among many others (such as education or manufacturing), and becomes problematic when pursued in isolation from other means of utilization and distribution. One factor in the current crisis is that money has been treated as wealth and the value of money separated from any tangible reality. Derivative trading is, for example, trading not just in intangibles but in the reflection of intangibles and then reckoning wealth in those terms.
One small example of the broader understanding of wealth that we advocate is that surveys of Londoner’s levels of happiness consistently show that a characteristic of boroughs where Londoners experience the highest levels of happiness are those with an inbuilt lung of creation in the form of the river and parks. Epping Forest has traditionally operated in this way for Eastenders while we also note that those who are financially rich tend to spend their money on art and culture. It may be that, as a result, we should measure Gross National Happiness like Bhutan; a country where this measure signals an attempt to build an economy based on spiritual (in this case, Buddhist) values.
2. The value of work
Work is valued in most faith traditions, even to the extent that in some human beings are seen as co-creators with the divine. The work ethic is seen as a noble endeavour in many faith traditions e.g. Sufi’s divide the day into work, worship and rest.
Hard work and creativity are valuable but are they always appropriately directed? We need to differentiate between the value of the work ethic and appropriate kinds of work. Not all work is appropriate or ethical therefore the value of the work ethic and of human creativity can be dissipated in work that is inappropriate or unethical.
Practices such as profiting from the process of charging and paying interest and lending what you don’t have which have been exposed by the credit crunch would seem to fall into this latter category. We should value productive work but are often divorced from the fruits of our labours.
We all tend to assume that paid employment is the natural means for gaining wealth but, as people of faith, we consider that this assumption disconnects us from divine or natural generosity. Society needs work done and a financial incentive is one way to get it done, but that doesn’t mean that work should be the only or main source of the wealth that we need. The credit crunch may provide an opportunity to consider alternative options, such as a Citizen’s Income.
3. Concerns about credit
The Hebrew Scriptures forbid charging interest to a fellow Jew while the Qur’an forbids charging interest and encourages trade and trade-type banking arrangements. Instead of credit-based banking systems, we commend trade-type banking and the approach of mutual building societies and credit unions. We need banks for current and savings accounts and for business loans, we need building societies (preferably mutual ones), and we need insurance (a legitimate pooling of risks); but the rest, we really don’t need and it should be shut down.
4. Structures of greed
Western economies have been inflated through greed, with their economic make-up being based on self-centred acquisition. Economic and political systems tend to be based on immediate profitability not long-term benefits. As a result, much of what we do makes no logical sense. Why, for example, do we sacrifice quality time by working hard in order to have quality time while on holiday or why do we drive to a gym in order to get on a walking machine?
Concerns regarding our economic systems are also to do with transparency. Many faiths reflect on light and dark and how bad things happen in the dark where actions can be hidden. Much of what has brought about the credit crunch has been hidden from view and from scrutiny. Transactions have been divorced from human interaction and have therefore been unregulated. Banking practices have taken place ‘in the dark’ hidden by technicalities. In the light of public scrutiny these practices have been found wanting. This is not about scapegoating but about the need for transparent practices.
5. The god of growth
Western economies have been predicated on unlimited growth and this has caused harm to the environment. Developing countries are using the same model. Many natural, God given resources are running out because we have exploited that which we have been given instead of stewarding and sharing them. The argument about whether oil and gas supplies have peaked or not remains unresolved but we are certainly running out. The failure of those two resources would impact on every aspect of our lives and would produce far greater misery that the 'credit crunch', as will climate change. We can’t ignore these wider issues most especially that of climate change.
6. Loss of relationships
There is a breakdown in the relational aspects of the economy. Exchanges are occurring in virtual space, trust is being lost and we need to return to our roots in relationships. Practices such as profiting from the process of charging and paying interest and lending what you don’t have led to banks no longer trusting each other and no longer lending to one another. In the past, there was a degree of trust in the markets summed up in the phrase ‘my word in my bond.’ It is important to work together in cooperation. There are also social consequences in terms of social cohesion arising from the credit crunch.
7. Support for developing economies
We should look for methods of ameliorating the financial/environmental misery that continues and develops around the world. Developing countries are using the same model of economic growth as the West despite the harm that it has caused to the environment. Economies throughout the world need rebalancing in the direction of wealth creation: education; the care of the vulnerable; manufacturing, creative and cultural industries; renewable energy; and agriculture.
8. Time for reflection and restructuring
There can be a sense of hope in this crisis; the credit crunch can be seen a watershed opportunity and not a catastrophe. A year ago people weren’t having the kind of conversations we are having today; that, in itself, is a positive change. Perception is vital in what is understood as being economically viable.
Some faiths, but by no means all, understand periods of suffering as part of a developmental process. We need to reflect on our experience of suffering and look for causes (i.e. underlying economic fundamentals). There may be natural causes but these may also have personal implications to which we will need to respond. Reflection and action go together. For example, a recent survey found that 25% of respondents are praying or meditating more as a result of the credit crunch.
Not all faith communities think that suffering is ennobling and there can be a polarization around concrete political change versus inner personal change. Both are needed in dialogue, both are on the same spectrum of responses.
We need to reflect on the values that we share. The economy has spiralled a long way from real valuations. We need to link personal, moral and spiritual values with economic values.
It may be that we are at a point in time (like that at the end of the Second World War which led to the development of the UN and the Universal Declaration of Human Rights) which will produce new structures for society. For example, the free market has been shown to be unable to provide its own banks without these being propped up by Government funds. We may be in a moment in time when recession, the credit crunch and the ecological crisis are combining to bring about profound shifts in the global economy.
If we are looking at a restructuring of the global economy, then we could see the economy rebuilt in terms of a broader understanding of wealth with new kinds of jobs (i.e. renewable energies, creative industries, and community empowerment) forming its foundation. Such a restructuring could also provide space for addressing the ecological crisis. Ecology cannot be divorced from economics. For example, the costs of extraction and replacement of the world’s natural resources has in the past been excluded from company accounts but its inclusion would provide a very different picture of the effects of the global economy on the environment.
9. Constituencies for action
People of faith form a huge constituency and can motivate people to action. People of faith are also part of rooted communities (e.g. local authority areas) which in some instances are beginning to plan for greater economic resilience. People of faith need to be party to these debates and summits. We have allowed those in power to use the argument that faith is essentially private and not public. The consequence has been that our views are marginalised. This paper is one small means of reclaiming that public dimension for our faiths.
There is no quick fix but, together, we have a vast constituency, one large enough to start sowing seeds of change. We should look for methods of ameliorating the financial/environmental misery that continues and develops, around the world. A proactive assertion is needed from faith communities to argue for non-interest bearing transactions, mutual societies not shareholders, and recognition of the role that artists and communities play in generating real wealth. All faiths offer ways of being that are conducive to human flourishing.
10. London, a melting-pot for change?
London has developed as the ultimate world city - in part because of the widespread use of the English language and our location between the New York, Middle East and Far East stockmarkets, especially Hong Kong and Tokyo – and this is something to be valued and celebrated. London’s position has been as the financial capital of the world. Market forces and financial institutions are at the heart of London’s economy and it is the market that is London which has given the city its social, ethnic and faith diversity. How will this change as a result of economic restructuring? Will London adapt and will it maintain its inclusivity as it does so?
Our hope is that London will adapt and change to a restructuring of the global economy that is focussed on a broader understanding of wealth than money gain and economic growth alone and do so in a way that maintains and develops it’s social, ethnic and faith diversity.
-----------------------------------------------------------------------------------
The Clash - London Calling.
Friday, 7 November 2008
Opening the FiLE on faith at work
I received the latest issue of the Faith in Business quarterly today as it features an article by me about the work of Faiths in London's Economy (FiLE). Called 'Opening the FiLE on faith at work', the article sets out our vision to build a broader understanding of faith and belief among employers and by doing so foster a more creative engagement between faith communities and employers.
The next stage in doing so is a meeting to begin preparation of a shared faiths response to the credit crunch. This is a piece of work that has come out of our 'Ethics in a global economy' seminar held on 29th October. Participants in the seminar called for a shared faiths perspective on the credit crunch to be developed and FiLE undertook to facilitate that work.
The initial meeting to begin that work will be held on Wednesday 3rd December, 4.00pm, St Ethelburga's Centre for Reconciliation and Peace, 78 Bishopsgate, London EC2N 4AG. Do let me know if you would be interested in attending.
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The Style Council - With Everything To Lose.
The next stage in doing so is a meeting to begin preparation of a shared faiths response to the credit crunch. This is a piece of work that has come out of our 'Ethics in a global economy' seminar held on 29th October. Participants in the seminar called for a shared faiths perspective on the credit crunch to be developed and FiLE undertook to facilitate that work.
The initial meeting to begin that work will be held on Wednesday 3rd December, 4.00pm, St Ethelburga's Centre for Reconciliation and Peace, 78 Bishopsgate, London EC2N 4AG. Do let me know if you would be interested in attending.
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The Style Council - With Everything To Lose.
Monday, 3 November 2008
Ethics in a global economy
Ethics in a global economy was a timely seminar, held on Wednesday 29th October, to explore faith perspectives on business ethics, at the level both of the global economy and the individual workplace.
Participants in the seminar called for a shared faiths perspective on the credit crunch to be developed and Faiths in London’s Economy (FiLE), the organisers of the event, undertook to facilitate that work.
The seminar was held at the St Ethelburga’s Centre for Reconciliation and Peace and was based on the understanding that the global economy operates in a multi-faith world which continually raises ethical issues for individuals and organisations.
Contributors to the event included:
Participants in the seminar called for a shared faiths perspective on the credit crunch to be developed and Faiths in London’s Economy (FiLE), the organisers of the event, undertook to facilitate that work.
The seminar was held at the St Ethelburga’s Centre for Reconciliation and Peace and was based on the understanding that the global economy operates in a multi-faith world which continually raises ethical issues for individuals and organisations.
Contributors to the event included:
- Dr Edmund Newell (Director, St Paul’s Institute) who spoke about the importance of the credit crunch being used as an opportunity for reflection across the global economy and within which faith communities have a valuable contribution to make.
- Jay Lakhani (Head, Hindu Academy) who highlighted the needs of those in the two-thirds world whose experience was consistently one of poverty and called for this period of reflection to be one that takes account of the needs of such people.
- Alison Murdoch (Director, Essential Education) who highlighted 16 guidelines for life and helped participants apply these to real life ethical issues in their workplaces through an interactive exercise.
- Saif Ahmad (CEO, Muslim Aid) who encouraged those present to be the people to drive this agenda and these issues forward from a faiths perspective.
Justine Huxley, St Ethelberga’s Centre for Reconciliation and Peace, said:
“I felt it was a valuable first conversation and the speakers created an interesting range of perspectives. I hope we can do some kind of follow up to this. It would be good to start the ball rolling and help get a multi-faith response to this more widely heard.”
FiLE is a new network working with a range of organisations across London in order to create coordinated faith-community responses to the issues facing London's economy. FiLE is seeking to foster a more creative engagement between faith communities and employers. In facilitating a shared response across faiths to the issues raised by the credit crunch we will seek to demonstrate that faith can be put to work in work to bring real creativity and change.
Organisations that have so far worked together on different aspects of FiLE’s agenda include: Employer’s Forum on Belief, European Baha’i Business Forum, Faith Regen Foundation, Mission in London’s Economy and St Ethelberga’s Centre for Reconciliation and Peace.
As a new network, our first initiative has been to begin to map organisations delivering resources and services on issues of faith and work across London and to share the information we have found with others through listing these organisations and resources on our webpage at http://www.mile.org.uk/file.htm. As this listing grows, it will offer employers and employees a one-stop shop for organisations and resources addressing issues of faith and work available in London.
Secondly, as part of raising awareness and removing misconceptions about issues of faith and work, we have begun a seminar series addressing such issues. The series began by considering Ethics in a global economy and will continue by exploring Faith-based models of Leadership. Through this series of seminars we will seek to broaden employers’ perceptions of the ways in which faith impacts work including issues such as creativity, diversity, empowerment, relationships, service delivery, transformation and values, among others.
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Pink Floyd - Money.
Monday, 29 September 2008
Ethics in a global economy
The programme for 'Ethics in a Global Economy,' the FiLE seminar being held on Wednesday 29th October at the St Ethelburga's Centre for Reconciliation & Peace, has now been finalised. The full list of contributors to the day is Saif Ahmad (CEO, Muslim Aid); Jay Lakhani (Head, Hindu Academy), Alison Murdoch (Director, Essential Education) and Dr. Edmund Newell (Director, St Paul 's Institute).
The programme will be as follows:
8.30am Breakfast and registration.
8.30am Breakfast and registration.
9.00am Introductions and icebreaker
9.15am Keynote speech from Ed Newell (including Q&A)
9.45am Breakout groups:
Group 1 - ‘Faiths & business ethics’ with Alison Murdoch & Jay Lakhani. Question: Is it possible to be true to your faith values and be a responsible employer or employee?
Group 2 - ‘Ethics of business in a multi-faith world’ with Saif Ahmad & Ed Newell. Questions: What relevance do faith communities have to a global economy? How can a faith community be heard in a global economy? What change can faith communities bring?
10.45am Break
11.00am Repeat of Breakout groups
10.45am Break
11.00am Repeat of Breakout groups
12.00noon Panel session with panellists: Saif Ahmad, Jay Lakhani, Alison Murdoch and Ed Newell.
12.40pm Keynote speech – Jay Lakhani
1.00pm Lunch
Cost: £50.00 for organisations, £25.00 for individuals. To book a place call Emma at Faith Regen Foundation on 020 8361 2288 or email her at emma@faithregenuk.org. For more information see: http://www.mile.org.uk/file.htm.
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Nu Colours - Desire.
Thursday, 11 September 2008
Ethics in a global economy
'Ethics in a global economy' which will be a participatory and engaging exploration of faith perspectives on business ethics, at the level both of the global economy and the individual workplace.
The seminar is especially designed for all who face ethical issues in their business lives by Faiths in London 's Economy (FiLE), a new network which is working to create coordinated faith-community responses to the issues facing London 's economy.
Contributors include: Saif Ahmad (CEO, Muslim Aid); Jay Lakhani (Head, Hindu Academy), Dr. Edmund Newell (Director, St Paul 's Institute).
Wednesday 29th October, 8.30am - 2.00pm (breakfast & lunch provided) at St Ethelburga's Centre for Reconciliation and Peace, 78 Bishopgate, London EC2N 4AG. Cost: £50.00 for organisations, £25.00 for individuals. To book a place call Emma at Faith Regen Foundation on 020 8361 2288 or email her at emma@faithregenuk.org.
For more information, http://www.mile.org.uk/file.htm.
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Aradhna - Prem Milan.
Monday, 28 July 2008
Ethics in a global economy
The global economy operates in a multi-faith world which continually raises ethical issues for individuals and organisations.
'Ethics in a global economy' is a seminar which will explore faith perspectives on business ethics, at the level both of the global economy and the individual workplace, through keynote speeches, breakout groups and a panel session.
Designed for all who face ethical issues in their business lives, 'Ethics in a global economy' has been prepared by Faiths in London's Economy (FiLE), a new network working with faith communities to create coordinated faith-community responses to the issues facing London's economy.
Speakers to include: Dr. Edmund Newell, Director of the St Paul's Institute, Saif Ahmad, CEO of Muslim Aid, and Jay Lakhani, Head of the Hindu Academy.
The seminar will take place on Wednesday 29th October 2008, 8.30am – 2.00pm (including breakfast and lunch), St Ethelberga’s Centre for Reconciliation and Peace, 78 Bishopsgate, London EC2N 4AG. Cost: £50.00 (Organisations), £25.00 (Individuals). To book a place call Robina at Faith Regen Foundation on 020 8361 2288.
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Matisyahu - King Without A Crown.
'Ethics in a global economy' is a seminar which will explore faith perspectives on business ethics, at the level both of the global economy and the individual workplace, through keynote speeches, breakout groups and a panel session.
Designed for all who face ethical issues in their business lives, 'Ethics in a global economy' has been prepared by Faiths in London's Economy (FiLE), a new network working with faith communities to create coordinated faith-community responses to the issues facing London's economy.
Speakers to include: Dr. Edmund Newell, Director of the St Paul's Institute, Saif Ahmad, CEO of Muslim Aid, and Jay Lakhani, Head of the Hindu Academy.
The seminar will take place on Wednesday 29th October 2008, 8.30am – 2.00pm (including breakfast and lunch), St Ethelberga’s Centre for Reconciliation and Peace, 78 Bishopsgate, London EC2N 4AG. Cost: £50.00 (Organisations), £25.00 (Individuals). To book a place call Robina at Faith Regen Foundation on 020 8361 2288.
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Matisyahu - King Without A Crown.
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