Capitalism makes use of human imperfections

Philip Booth appears on "The Bishop and The Bankers" on BBC Radio 4

Philip Booth appeared on “The Bishop and The Bankers” on BBC Radio 4 to discuss the morality of capitalism.

Capitalism produces a society which is dependent on the morals of the people, but a successful system doesn’t rely on everyone behaving “like angels”. Mr Booth argued that capitalism can produce a materialistic society or a prudent one, as long as it’s a free choice in a free economy. However the problem with the financial crisis was people taking large risks, pursuing their own interests and imposing the cost on others; he argued that this is not how true capitalism works.

Listen to the full programme here. Segment begins at 10:40.00.

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