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As part of Radio 3's annual Free Thinking events, Rana Mitter chairs a debate from the York Festival of Ideas considering the notion 'can we afford ethical business?'.

BBC Radio 3's annual Free Thinking festival of ideas continues its summer tour as it takes up residency at leading summer events across the country.

Rana Mitter chairs a debate from the York Festival of Ideas on whether we can afford ethical business.

As austerity bites into family finances and public services, cheap goods seem ever more attractive, even vital. But is there a price to pay in fairness, and to the environment? York has a long history of making ethical business ideals a reality, but can those ideas be carried forward into the era of austerity?

The panel includes The Guardian's Lucy Siegle, Adrian Wooldridge of The Economist, founder of Ethical Superstore Andy Redfern and economist Virginie Perotin.

The event is chaired by Night Waves presenter Rana Mitter and was recorded earlier this month at the York Festival of Ideas as part of BBC Radio 3's Free Thinking in the Summer

Free Thinking is visiting four festivals throughout the summer including HowTheLightGetsIn at Hay, the Institut Français Philosophy Night in London, York Festival of Ideas and the Chalke Valley History Festival in Wiltshire. These events are being broadcast in July and lead the way towards Free Thinking's annual weekend of debate at the Sage, Gateshead in October 2013.

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