This post from Francisco Dao is, I believe, an absolute must read. He highlights what many believe is one of the key problems in this troubled economy. It’s a moral problem in my mind. Here’s a snippet:
“For those of us who came of age during the Reagan era, the fall of the Soviet Union marked the ultimate victory of capitalism over communism. But 20 years later, capitalism is facing a much greater threat, not from communism or socialism, but from a cancerous distortion of its own values.
“I doubt anyone can pinpoint the exact reason for the transformation. Perhaps it was the onset of the “Me” generation of the 1980s or the arrogance that comes with being the last remaining super power. But the ethos of American capitalism has made a dangerous shift toward the deification of pure greed. …”
Hat tip to @mikecane