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 [2]. Segment begins at 10:40.00.