Down with "Wall St." - Up with Adam Smith localism

Here is an interesting piece by Philip Blond (not Bond as the newspaper website has it) on why there are theological and moral roots to the current economic turmoil. The focus on what is happening in the United States hides the fact that in Europe too, there are serious economic imbalances owing to huge debts taken on by governments and households alike. I am looking forward to reading more of Blond's radical toryism in his forthcoming book. Here, his insistence on localism, as the logical tie-in with the Judaeo-Christian moral framework, consists of an important antidote to the mess into which globalization is leading us.