Gordon Brown and Kevin Rudd and the search for universal values

Gordon Brown told faith leaders, charities and members of the public that markets rely on shared rules, rooted in firm values, in an address at St Paul’s Cathedral today.

Brown outlined the four great challenges facing the world right now: “financial and economic stability”, “environmental degradation”, “violent extremism” and “extreme poverty”.

He said that the aims of the country were to relieve long term unemployment, to reshape the global financial system and to avoid the mistakes of the 1930s by not taking protectionist and isolationist measures. He pledged that the current world crisis would not detract Britain from its commitment to the Millenium Development Goals.

Brown chastised bankers saying that rather than disperse risk their behaviour “spread contagion” which “did not only cross national boundaries but it crossed moral boundaries too”.

He said that: “The most important financial summits are those that take place around the kitchen table.

“Our task is to bring the imperatives served by our financial markets into proper alignment with the values held by families and business people across our country: hard work, taking responsibility, being honest, being fair.”

He said that markets need values and that the “invisible hand of markets had to be accompanied by the helping hand of society.” He said that these values were part of a shared global ethic which underpins all the major world faiths. This deep moral sense teaches that “each of us is our brothers keeper”.

He cautioned that tomorrows G20 summit is only the start of redressing the global balance and world leaders only play a part in bringing about the change that is required.

Australian Prime Minister Kevin Rudd echoed Browns belief that institutions needed a strong moral underpinning. He said that we need to “restore the balance between market and governmnet, the individual and the community”. He said that upon the traditional values of security, liberty and prosperity “must be grafted equity, sustainability and community”.