Continuing to beat that drum

"...the second rule of moral psychology is that morality is not just about how we treat each other; it is also about binding groups together, supporting essential institutions, and living in a sanctified and noble way."

Tied-in to the sneering condescension of the “failure of the free market” is fundamental lack of understanding of the above concept. When the learned class tell us that the free market failed, they ignore that what was at the core of the financial crisis was a break down of standard morality… of trust…. of self-discipline.

Those who blame avarice and greed and capitalism/free market see the market as the cause for the breakdown in morality. It doesn’t work that way. The free market is merely the mechanism by which the most efficient results (good or bad) are obtained. Garbage in/Garbage out. Fraud, deceit, coercion, cooked books in/Financial meltdown out.

Please read B-Daddy’s excellent post here on markets, morality and… the Pope?