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.” 

Article
Comment
Ethics
Fashion
Race
5 min read

Anna Wintour is not a moral compass

The Vogue editor’s championing of diversity is all very well, but it’s based on what sells
Anna  Wintour stands holding a small mic.
Anna Wintour.
UKinUSA, CC BY-SA 2.0, via Wikimedia Commons.

Last month, the Costume Institute at the Metropolitan Museum of Art in New York launched a new exhibition. “Superfine: Tailoring Black Style” highlights the history of Black people resisting white supremacy through their sartorial choices. A few weeks after it opened, the 2025 Met Gala, which serves to raise funds for the Costume Institute, was chaired by Black voices across the creative industries, including A$AP Rocky, Pharrell Williams, Lewis Hamilton, Coleman Domingo and Lebron James. The exhibition has already received rave reviews from Black writers and academics, likely in part due to its co-curation by Monica Miller, who literally wrote the book on the subject Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity

Concurrently, a few hours south of New York City’s Metropolitan Museum of Art in Washington DC, Donald Trump was calling Diversity and Inclusion initiatives “dangerous, demeaning and immoral.” A series of policies rolled out across the US federal government has led to the shutdown of not only diversity programmes, but a quiet disappearance of wording and other initiatives that might be interpreted as promoting similar themes. 

But the Costume Institute, which does not receive any federal funding, is uniquely free to follow Anna Wintour’s steer. And Wintour, Conde Nast’s Chief Content Officer and Editor in Chief of Vogue, is fighting back. “I feel we need to be courageous”, she told the Washington Post last month. Now, she added, is “a challenging time”.

Until now, Wintour has been an unlikely activist. Vogue has long been criticised for a range of ethical issues that include,  including lack of diversity, promotion of unhealthy body standards, and the sexualisation of young women. But are the magazine and Wintour now our bastion for future hopes of racial justice and equality?

In 2020, many of my friends and family ordered books and listened frantically to podcasts about race in America because of the events surrounding George Floyd’s death. In May 2020, a video circulated of officer Derek Chauvin suffocating George Floyd as he called out for his mother, leading to a flurry of protests and debates about the racial bias present in institutions. 

In those days, learning about the systematic injustice faced by Black Americans and calling for change felt popular. Everyone was doing it. Books like The New Jim Crow by Michelle Alexander, Why I’m No Longer Talking to White People About Race by Reni Eddo-Lodge, The Color of Law by Richard Rothstein, and How to be an Anti-Racist by Ibram X. Kendi filled our Amazon carts and library holds. 

These days, many of those books have quietly disappeared from the shelves. For sure, there are those who continue to fight for racial equality. But the winds have changed, with some companies - like Conde Nast - landing on one side, while Google, Meta and Amazon disappear from the horizon. 

It’s easier to flip through beautiful images and call it a day, than to be a part of real, diverse communities.

It might seem obvious that brands are not the best source for our moral formation. But the fact is that many of them see themselves as culture-forming and mission-driven. If you don’t have something else to help form your idea of what the world should look like, why not Vogue, with its picture-perfect editorials, or Google, with its future-facing innovations? 

For me, my beliefs in diversity and racial justice come from something stronger: my Christian faith and the many Black men and women globally who share this faith with me. It was my reading of Black Liberation theologian James Cone that first showed me the depths of beauty I could gain by understanding my faith through someone else’s perspective. Cone was famous for his book which drew parallels between Jesus’s death on the cross by Roman crucifixion, and the deaths of many Black men by lynching in the American South. Cone stopped me in my tracks, making me rethink a key symbol of my faith. He said this: 

“The cross has been transformed into a harmless, non-offensive ornament that Christians wear around their necks. Rather than reminding us of the “cost of discipleship,” it has become a form of “cheap grace,” an easy way to salvation that doesn’t force us to confront the power of Christ’s message and mission. Until we can see the cross and the lynching tree together, until we can identify Christ with a “recrucified” black body hanging from a lynching tree, there can be no genuine understanding of Christian identity in America, and no deliverance from the brutal legacy of slavery and white supremacy.”

It won’t make it into a Vogue editorial anytime soon– but maybe that’s the point. 

A faith-based belief in justice comes with challenges. It can feel tiring to face a troubled history of racism in a religious institution. Existing in diverse, faith-based communities brings everything from awkward cultural differences to true and genuine disagreements. The global Anglican communion faces tension between white, liberal progressives in the UK who want to celebrate gay marriage in the Church of England, and an assemblage of Christians of colour in the Global South who maintain strong convictions about traditional views of marriage and gender. Our faith in Christ is the anchor that holds us together. But these are real disagreements; they’re not trivial, and there’s no easy way forward. 

It’s easier to flip through beautiful images and call it a day, than to be a part of real, diverse communities. And this is why we can’t rely on people like Anna Wintour to form our vision for the future. As nice and important as it is to promote diversity in models, photographers, and designers, ultimately Vogue will be shaped by what its editors and publishers think will sell on the newsstand.  

This is my plea for us all. Let’s not let the shifting tides of any company– Meta or Vogue– decide our ethical convictions towards justice. Let’s rely on something stronger.

Support Seen & Unseen

Since Spring 2023, our readers have enjoyed over 1,000 articles. All for free. 
This is made possible through the generosity of our amazing community of supporters.

If you enjoy Seen & Unseen, would you consider making a gift towards our work?
 
Do so by joining Behind The Seen. Alongside other benefits, you’ll receive an extra fortnightly email from me sharing my reading and reflections on the ideas that are shaping our times.

Graham Tomlin
Editor-in-Chief