Interview
Culture
Economics
S&U interviews
5 min read

Can the economy work for the common good?

Adrian Pabst on the economic framework that is universal yet particular about people.
A man talks animatedly looking at the camera while sitting against a wood panelled wall.
Fondazione Centesimus Annus Pro Pontefice.

Adrian Pabst is Professor of Politics at the University of Kent, and deputy director at The National Institute of Economic and Social Research. His lecture on Just Economy? Catholic Social Thought, Mutualism and Roads Not Yet Taken, was a highlight of the Lincoln Lectures series, organised by Together for the Common Good. Financial markets journalist Laurence Fletcher talks with him to discover more about his thinking.

 

There is no shortage of commentators ready to point out the apparent deficiencies in the UK’s economy. Widespread in-work poverty, poor productivity growth, regional inequality and a perceived reluctance among employers to train up British workers are just some of the accusations that can be levelled. 

But finding realistic, workable solutions is more difficult, as successive governments have found. Is the answer to be found in having higher levels of tax and government spending, or lower? Should governments be intervening more, or give more room for free markets to work? With a general election on the horizon, and with issues of economic growth, government spending and taxation likely to feature prominently, such questions are particularly pertinent. 

Offering one alternative way of tackling the problem is Professor Adrian Pabst, a political scientist at the University of Kent, who is an expert on so-called Catholic Social Thought. This approach, which was developed in the 19th century and draws from the Bible, focuses on the dignity of the individual, care for others and the common good, with the aims of social renewal. It provides a framework for thinking about big topics such as international relations, the economy and the environment, and Pabst believes it has much to say about our economy today. 

Catholic Social Thought “is very particular. It always speaks to the moment. And it’s highly universal because of it,” he said in a recent interview. “This is what the world is like and this is how we must act.” 

Pabst rejects both the idea that everything is fine with our economy (“mythical stories about things working”) and the belief that “everything going to hell in a handcart”. 

Instead, his approach is to look at some of the apparent contradictions in our economy - strengths alongside related weaknesses. For instance, how can a country be rich but have poor citizens, or have a very high output of goods and services while many people do not partake in them? Or how can many people have become worse off in recent years, even though wages are growing? Or how can the UK boast an “incredible” City of London that is one of the world’s top financial centres, yet have people without access to capital? 

“We have to be realistic about where we are - a low wage, low growth, low productivity economy. We can pay people higher wages over time if we increase productivity. That comes from investment,” he said. 

Free markets have at times been heralded as either the answer to all our problems by some on the political right, or the cause of so much misery by some on the left. But Pabst’s approach is more nuanced. Markets should not simply be “the engine for ever-greater inequality”. But, crucially, they are not inherently bad in and of themselves, and often the problem is instead down to a market being stacked in one side’s favour.  

“Markets are not one thing,” he said. “They are an outcome of ownership, regulation… There is not a problem with markets per se, but it’s the wrong regulation, ownership concentrated in a very few people. 

“There are lots of things we can do much better. But if we replace the market with the state, we’d just be doing [communism] and ultimately we’d be poorer,” he added. “The question is, are we putting society first?”  

(As an aside, he also takes a more nuanced view on former Prime Minister Margaret Thatcher, who he believes brought both positives and negatives). 

Big tech firms are “oligarchies accountable to no-one. It’s simply not a tenable position. They’re like media companies yet they’re not subject to media laws… We’ve allowed them to build private infrastructures. It needs to be tackled.”

So what would Pabst actually change? 

For starters, he believes that too much capital is directed towards the wrong purpose, namely financial speculation. While some would argue that speculation plays an important role in the economy, for instance in price discovery in markets or in taking the other side of the trade, say for farmers who want to hedge crop prices, Pabst is keen to see the economy produce “goods and services that have real worth”. Significantly for how society is structured today, he argues that we do not need “a class that lives off assets at the expense of everyone else”. 

Other areas also need to change, he believes. Loopholes should be closed to make it harder for companies to use agency workers rather than employing people. Trade unions need to be encouraged and improved. A national investment bank, grouping together the existing, disparate pots of money, could direct capital to sectors and regions where it is needed. As is already the case in Germany, companies and society would both benefit from having employees on their boards. 

More economic decisions can be devolved from national government to a local level, but challenges such as climate change or regulating the big, powerful technology companies - which he describes as “modern day plutocracies” - should be tackled at a higher level. 

Big tech firms are “oligarchies accountable to no-one”, he said. “It’s simply not a tenable position. They’re like media companies yet they’re not subject to media laws… We’ve allowed them to build private infrastructures. It needs to be tackled.” 

And (more of a comment on the US than the UK) he sees little value in companies reporting earnings quarterly, which he said is driven by “short-term profit maximisation”. 

Intriguingly, Pabst does not shy away from taking a stance on one of the most divisive issues of our times: immigration. 

Catholic Social Thought, he explains, is humane and pro-immigrant. But, to break with what he calls “a low wage, low skill model”, mass economic migration is to be discouraged, because it is detrimental to both the sending and receiving countries. 

“[We say] yes to refugees, to asylum. But no to mass economic migration,” he said. 

So, going into an election, how likely are we to see things change for the better? 

Rather than being optimistic - the belief that eventually things will get better - Pabst is hopeful, because he believes that things could be different, but he is not necessarily expecting it. 

“I remain hopeful,” he said. “I just don’t quite see who’s going to do it.” 

Review
Culture
Film & TV
Fun & play
Justice
5 min read

Boom! I love this new Superman!

Eschewing ennui, it’s a great fairy tale for the modern age
Superman talks to his dog amid the ice.
Superman and Krypto the dog.
Warner Bros.

…and that’s what makes this film so enjoyable! 

Oh, apologies for any confusion.  

No tortuously ‘relevant’ preamble from me today. I’m starting the review right in the middle of the action, because that is exactly what Superman does. No initial slog through a ‘backstory’ that everyone knows – even my wife, who has never read a comic book in her life, is familiar with who and what Superman is. The closest we get to contextualisation is a quick sequence of text: informing us that Superman landed 30 years ago (adopted by the Kent couple, and given the name Clark), began his superhero career three years ago, stopped the fictional nation of Boravia invading the equally fictional Jarhanpur three weeks ago, and three minutes ago lost a battle for the first time. 

Boom! 

Then straight into the action! 

Superman lands in the frozen tundra of the Antarctic and can barely breathe. He lets out a whistle and the next thing we know there is a tremendous snowy disturbance. Krypto the Superdog dashes into view! No explanation – just delight in the fact that there is a mischievous canine with unbelievable power. Krypto drags Superman ‘home’ to the Fortress of Solitude. There the Superman robots heal him with a concentrated dose of radiation from the Yellow Sun which gives him his power. He immediately departs to continue his bout against the nationalist supervillain ‘Hammer of Boravia’, who is secretly being controlled by the evil genius and billionaire Lex Luthor. 

The pace of this film isn’t fast…its hypersonic. It flies by at the speed of Superman himself. There isn’t any lag, any let up. Even the quieter moments, such as those meditating on Superman’s dual identities (the alien superhero Kal El/Superman and the human reporter Clark) or his burgeoning relationship with investigative journalist Lois Lane, keep the story moving. Exposition doesn’t take place through inexplicable monologues; it is always pacy conversation, which teaches us something about the characters and their relationships and their motivations. 

This is the great triumph of writer/director/producer James Gunn. After his success over at Marvel Studios, he has taken the helm of DC and started to create a universe of characters and stories that doesn’t waste time with painful ‘exploration’ and moralising. This was always the issue that held DC films (arguably featuring the more beloved and well-known characters in comic-book culture) back from matching the success of Marvel. Christopher Nolan is a genius, giving us a superb Batman trilogy, and Zac Snyder produced an underrated dark take on Superman, but neither seemed to delight in the bright, bubble-gum, kaleidoscopic colourfulness of the comic-book medium. 

Gunn refuses to make his Superman film gritty or realistic. Characters appear in all their flash and bombast and are welcomed as cheery additions. The ‘Justice Gang’ are simply there – including the always enjoyable Nathan Fillion with an arrogant smirk and an almost offensive bowl cut. Luthor’s genius allows his to create a parallel dimension…why couldn’t he!? If we can suspend our disbelief to accept a protagonist who is an alien superhero, why not a mini-universe?  

There is none of the former focus on psychological trauma and existential crisis and the sheer overwhelming ennui of being. In previous films the ethical lesson wasn’t just ‘on the nose’…it flattened your nose with a Mike Tysonesque haymaker! Here, Superman simply IS. He IS good. He IS upstanding. He IS fighting for truth and justice. He refuses to allow political and public-relations considerations to corrupt and dilute his absolute commitment to do (and to BE) what is right. One of the most dramatic scenes isn’t a grand battle, it is a quiet moment where Clark allows Lois to interview him as Superman. The more she questions the realpolitik implications of stopping an invasion, the more Clark becomes incensed. How could someone not allow themselves to save innocent life and serve justice to the oppressed against the oppressor? 

The film is such a ‘sigh of relief’ in a bloated comic-book-film market. Yes, the script is hilarious – this is Gunn’s forte. Yes, the music is sublime – both John Murphy and David Fleming’s score (with wonderful nods to the John Williams original) and Mr Gunn’s own needle-drops. The performances are excellent across the board – special mention to David Corenswet, who doesn’t quite look like Superman to me…but boy does he embody the very essence of the character, to the point where you can’t imagine anyone else having played the alien since Christopher Reeve. But its truest strength and victory is its joy in the simplicity (especially moral) of this comic-book genre. 

This is what is so refreshing about Gunn’s vision. Superman IS pure. Lex Luthor (Nicholas Hoult not missing a baldy beat) IS so prideful and vain that it has warped him into something twisted and evil and collapsing in upon his own ego. Watching the film, I was put in mind of C. S. Lewis’ writing on the nature of fairy tales: 

“For in the fairy tales, side by side with the terrible figures, we find the immemorial comforters and protectors, the radiant ones…” 

Comic-books are the great fairy tales of the modern age…why would we make them brooding deconstructions of the human condition, a la Cormac McCarthy? That isn’t their point or purpose. Lewis again: 

“Since it is so likely that they [children] will meet cruel enemies, let them at least have heard of brave knights and heroic courage. Otherwise you are making their destiny not brighter but darker.” 

Gunn has given us a film that isn’t just fun and fluffy, but important. In his sugary, childlike wonder and delight in the genre, he has given us a tale of good versus evil that is a true fairy tale: something gleaming and good, something radiant and right, something attractive and aspirational. Superman is a fairy tale where we can be comforted and emboldened by the moral (nay, ontological!) certainties of love and hope.  

5 stars

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