The Moral Vulnerability of Markets
Today, there seems to be no coherent alternative to capitalism, yet it remains morally vulnerable. Because the market system has become dangerously dependent on economic success, any large-scale economic failure – such as the crisis we are witnessing today – will expose the shallowness of its moral claims.
LONDON -- Today, there seems to be no coherent alternative to capitalism, yet anti-market feelings are alive and well, expressed for example in the moralistic backlash against globalization. Because no social system can survive for long without a moral basis, the issues posed by anti-globalization campaigners are urgent – all the more so in the midst of the current economic crisis.