Spreading the Good News
Charity Dinner for CAFOD
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Page 12 May 2013
The Pursuit of Virtue By Alex Balzanella The Most Rev Vincent Nichols, Archbishop of Westminster, delivered a keynote speech at St Paul’s Cathedral on 11 April in which he asserted the need for the business world to be of service to human flourishing. In the debate looking at how the City can foster the development of good people Archbishop Nichols argued that businesses should look beyond just profit. Instead, organisations should recognise that they are also communities of people and should seek to further human well being through the goods and services they deliver. From a greater focus on humanity we will see fairer employment and lower risk whilst still providing a fair return to investors.
“The City’s resources must serve everyone’s good if the city is to have any sense of common destiny. Whatever the activity of the City might be, we are all in it together, like climbers tied together by invisible ropes...the institutions of business and commerce, on which the reputation and history of the City of London rest, have as their foundation precisely such bonds.”
The Classical Virtues
Archbishop Nichols went on to say that for the City to operate on such terms we must learn to both practice the Classical Virtues of prudence, justice, courage and temperance and to build institutions which foster their practice. “By pursuit of virtue we act well not because of external constraint, but because it has become habitual for us to do so. The virtues form us as moral agents, so that what we do is People Make the City Speaking about the community of right and honourable irrespective of the City, Archbishop Nichols said: reward and regardless of what we “Community is created and are obliged to do.” common destiny established Importance of Moral Purpose through the vision, commitment Archbishop Nichols then considered and relationships which good examples of what happens when we people form.” fail to develop the Classical Virtues
The Most Rev Vincent Nichols, Archbishop of Westminster, at St Paul’s Cathedral © Mazur/catholicnews.org.uk
referring, in particular, to the recent help create the common goods that at ‘The City and the Common Good: Francis Review of Mid-Staffordshire serve to reduce inequality. ” what kind of City do we want?’ NHS Trust: Potential for the Future The debate was chaired by Stephanie “The staff – good people in the main Archbishop Nichols concluded by Flanders, BBC Economics Editor. Other – were led by a catalogue of failings considering the importance of panellists included Baroness Helena to collude in a catastropic failure, the leadership in promoting the virtues in Kennedy, Labour Member of the head of the professional standards order to create a moral standard House of Lords; Tracey McDermott, authority spoke of leaders having lost throughout the City: FSA Director of Enforcement and “Humanity has the most sight of their moral purpose. They had forgotten they exist to do good. extraordinary capacity for good, and I Financial Crime and Bishop Peter deeply believe there are great Selby former Bishop of Worcester and Concern for finances had taken wellsprings of renewal for this City, priority over care, compassion for every city, of how we organise the St Paul’s Institute Interim Director. and respect.” world at work in the service of the FOR MORE INFORMATION “We have seen what happens when common good.” businesses simply focus on profit as The debate is part of a series looking www.rcdow.org.uk/archbishop an end in itself and exploit every situation for that end. The true justification of business, I suggest, is when profit is made through delivering a purpose that genuinely adds to human well-being.” “The architects of lasting business success learn to understand and control their own self-interest...by acting consistently, do what they say, setting and acting on high expectations, they create a culture that actually strengthens good practice.” He said this behaviour “will nurture, attract and reward good people. It will inspire the good in people and