The Archbishop of Canterbury's advice for Joe Hockey - Michael Mullins for Eureka Street

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Britain has emerged from recession with a stronger economy than other European countries. There is once again economic growth, but optimism is somewhat muted by a widening gap between rich and poor. The wealthy are enjoying increased prosperity and those on lower incomes are being left behind.

That is the picture painted last Wednesday by the Archbishop of Canterbury Justin Welby in his landmark speech on ‘The Good Economy’.  As a former business executive who worked in the oil industry for more than a decade, he speaks with particular authority on economic issues. 

He acknowledges that market capitalism is an ‘extraordinarily efficient’ means of wealth distribution and liberator of human creativity, and that the alternatives ‘have always led to inhumanity or even tyranny’. But he explains that it too easily accommodates human greed and needs to be reconciled with social justice.

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