Published this two years ago, but it seems appropriate to revisit.

In an interview with the Times of London, the Archbishop of Westminster makes some interesting observations about our particular brand of capitalism:

… the economic downturn could be the very thing that brings us to our senses. “It’s the end of a certain kind of selfish capitalism,” Cardinal Cormac Murphy-O’Connor said. “This particular recession is a moment – a kairos – when we have to reflect as a country on what are the things that nourish the values, the virtues, we want to have … Capitalism needs to be underpinned with regulation and a moral purpose.”

He will stand down soon as the head of the Roman Catholic Church in Britain, which he has been for nine years, but before he goes he wants to make one final plea to Britons to change their ways. He told The Times that he had advised Gordon Brown to complement his National Economic Council with a moral one, to “rediscover the things that make for a healthy society”.

He said: “One feels very sorry for those losing their jobs but in times of recession people have to rely on friends and neighbours and families and things that really matter to them. That may be a good thing. I think people did lose their way a bit. It has been difficult to bring up children with the kind of values we want. Let’s face it, we now have a ‘me, me’ society, a more consumerist society, a utilitarian society, and our values and virtues have become diminished.

Great points. I don’t support regulating capitalism via laws, though. You can’t legislate virtue — it’s got to come from within.