Philip Booth writes for CapX

Philip Booth, Senior Academic Fellow at the Institute of Economic Affairs has written for CapX following Archbishop Welby’s comments about capitalism.

In his article Philip makes the point that economics is the science of not having your cake and eating it. It could be argued that he misidentifies the problems with the UK economy. But, problems there are. Some of them, such as the housing crisis, can be fixed. But to some extent low pay and falling living standards are not a bug, they are a feature of economic policies that many Christians support. It would be better if the Archbishop opened up a debate about whether we should accept lower incomes today in order to achieve more important societal objectives – rather than complain about the inevitable implications of policies he supports.

Read the full article here.