Economy Working Group – Saint Augustine Institute
Economic Crisis and Christian Response – Christian Worship and the Secret of a Healthy Economy
Friday 19th November at St Margret Lothbury
The financial crisis that blew up two years ago followed a period of very rapid expansion of the financial sector. Was this an over-expansion? Is the economy suffering because finance took, and still takes, too large a part in it? What underlying social and demographic changes are driving this imbalance? How can we recover from this?
The solutions to financial problems cannot be found within factors narrowly defined as economic. It has to be found in wider social and cultural changes. Though an economy is usually a self-correcting mechanism, when it is unable to bring itself back into balance, we have to restore publicly recognition to the underlying social drivers of economic prosperity.
Earlier generations dealt with very similar crises, and we may learn from them. Christians may use the resources of the rich Christian tradition of economic thought to bring about this economic ‘re-set’. These include the practices of self-judgment, repentance, the acceptance of public judgment and penalty, forgiveness and debt cancellation. But above all, they involve the practice of publicly confessing and doing penance for the sin of the wider nation; this task is fundamental to the priestly and sacrificial vocation of every Christian. These practices already exist in Christian worship. If we make them more explicit they may bring about the sort of correction needed and allow the motivations that drive our economy to re-emerge.
Christians are not to bound to see an economic crisis as a bad thing. If we let it, this crisis may serve as a valuable correction that can bring greater balance to our economic and national life.
Come and discuss these issues with us on Friday 19th November. If you are able to come please reply to this email. St Margaret Lothbury is directly behind the Bank of England. Bank is the nearest tube station. See map
Watch my video invitation at YouTube