Friday, 28 October 2011

What is wrong with this picture?

An article on the BBC news website tells me that FTSE 100 company director's pay increased by 50% over the past year.  CEO's pay increased by 43%.  Congratulations to them.
Base salaries for UK employees rose by 3.2%.  Hard luck.
UK Inflation is at 5.2%.  Unemployment for 16 to 24-year-olds is at 21.3%.

The Church Times this week tells how the Vatican is speaking out against the "idoloatry of the market".  It's heating up, too, in the Church of England, where Canon Giles Fraser has resigned from his post as the Chancellor of St Paul's Cathedral in London, presumably to stand up for the protestors over and above the worldly concerns of health and safety and income from tourists.  Something tells me Jesus would do the same.  It's very sad that the 'Occupy Wall Street' and 'Occupy London' protests will most likely have no effect on these economic injustices. I have no answers. I just know this is not right. 

Christina Weller, economist at CAFOD, says "G20 leaders have not thrown out the old failed orthodoxy of minimal government intervention in markets, and have not embraced their responsibility to re-orient economies to broader objectives of social and envirnomental well-being.  As a result, they have not carried out the reforms needed to tackle the deficiencies of global markets... [and] will continue to deal with crisis after crisis, and the lessons of the global downturn will be lost."

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