Greed is Not a Virtue

"We humans are living out an epic morality play. For millennia humanity’s most celebrated spiritual teachers have taught that society works best and we all enjoy our greatest joy and fulfillment when we share, cooperate, and are honest in our dealings with one another.

But for the past few decades, this truth has been aggressively challenged by a faith called market fundamentalism--an immoral and counter-factual economic ideology that has assumed the status of a modern state religion. Its believers worship the God of money. Stock exchanges and global banks are their temples. They proclaim that everyone does best when we each seek to maximize our individual financial gain without regard to the consequences for others.

In the eyes of a market fundamentalist, to sacrifice profit for some presumed social or environmental good is immoral. The result is a public culture that proclaims greed is a virtue and sharing is a sin.

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Having established control of the institutions of the economy, media, education, government, and even religion, market fundamentalists initiated a global social experiment to test their theory. The results are now in.

The prophets of the older faith traditions were right. Our common future depends on rediscovering their truth and redefining our public culture and governing institutions accordingly.

By capitalism's perverse moral logic, if a person sells toxic assets by knowingly misrepresenting them as sound, the fault lies not with the misrepresentation of the seller, but rather with the lack of due diligence on the part of the overly-trusting borrower."