Joe Stiglitz recently gave a talk co-sponsored by Union Theological Seminary and the Institute for New Thinking in Economics about the moral failings evident in the financial crisis.
In Stigliz's recent EconTalk podcast, he also discussed many of these issues with Russ Roberts.
I am very intrigued by this emerging narrative about the moral failings of modern financial capitalism. Many of the facts that Stigliz raises are indeed very important facts to account for, but the particular narrative he constructs turns a blind eye to other facts that I would argue are necessary to account for in any full narrative of the past 50+ years of economic history in the US and Europe.
If you were to construct a new narrative for the post-crony capitalist era that explained our immediate past, what would you stress in that history and what would you seek to build institutional constraints again for the viability of the future?