A curiosity in Adam Smith´s country: the Archbishop of Canterbury set equal urban rioter together with capital speculator.
Europe Security News. Could Adam Smith agree with nowadays Archbishop of Canterbury?
The summer riots in Britain and the financial crisis have broken bonds and abused trust in British society, the Archbishop of Canterbury said in his Christmas Day sermon.
The Archbishop said “the most pressing question” now facing Britain is “who and where we are as a society.”
He said, “whether it is an urban rioter mindlessly burning down a small shop that serves his community, or a speculator turning his back on the question of who bears the ultimate cost for his acquisitive adventures in the virtual reality of today’s financial world, the picture is of atoms spinning apart in the dark.” READ MORE HERE
Usually, a speculator is an important part of the capitalist cycle. The speculator buys at the lows, when everbody else is on the run. In that sense, the speculator invests/buys in bad times and selling in good times, for a profit. But this is not the opinion of the Archbishop of Canterbury, he apparently has the same point of view as any radical protester marching against the so called “capitalist greed”.