Justin Welby peddles “inclusive capitalism”

I was under the naïve impression that there was nothing left to which the overused to the point of meaninglessness adjective “inclusive” could be applied – but I was wrong.

From here:

The Archbishop of Canterbury today calls on business and market leaders to be less self-serving and to adopt a new model known as “inclusive capitalism”.

[…..]

“Rather than just seeking a return on investment, there has to be a generosity that reaches out.”

Any model of capitalism that relied solely on self-interest would lead to the collapse of society, he warns, writing in the Telegraph.

“Altruism, the imitation of the God who acts in love that does not seek return, is a crucial part of a stable and functional society.”

To what organisation should we look for inspiration in eschewing financial self-interest and seeking no return on investments? The Church of England, of course:

The Church Commissioners hold investments whose value was approaching £6.7 billion at the end of 2014.

[…..]

Their long term target is a return of at least RPI [inflation] plus 5% over the long term.

A paradigm of inclusive capitalism: it includes £6.7 billion and 5% return over inflation.