03/18/2010 05:12 am ET Updated May 25, 2011

Joseph Stiglitz: Economic Crisis Exposed The 'Moral Bankruptcy' Of Our Society

We have created a society in which materialism overwhelms moral commitment, in which the rapid growth that we have achieved is not sustainable environmentally or socially, in which we do not act together to address our common needs. Market fundamentalism has eroded any sense of community and has led to rampant exploitation of unwary and unprotected individuals. There has been an erosion of trust -- and not just in our financial institutions. It is not too late to close these fissures.

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