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Schwarz, Gerhard

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Neue Zürcher Zeitung - Switzerland | 30/01/2010

Economic crisis is crisis of values

The current economic crisis stems from a crisis in values, writes the (daily) Neue Zürcher Zeitung. It criticises short-term thinking, lack of clear lines of responsibility, neglect of consumer needs, and a disregard for political acceptance: "This year's favourite word in Davos is 'values.' ... But actually, free enterprise and society are based on common values. They cannot function if people do not share central moral convictions. Laws can neither force morality nor replace it to any great extent. A society in which everything were regulated would lack humanity and could not survive. That is why efforts to tackle the alleged and actual lack of decent behaviour by means of regulations are bound to fail, not to mention the fact that people have not suddenly become so much worse that they now have to be restrained.”

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