Economic Structures and Morality

A while ago some of you may recall that I posted on the nature of our current economic structure and how such a structure might undermine morality. In that vein here is Dan Ariely discussing a number of economic experiments that suggest that several features of securities exchanges actually encourage cheating:

What strikes me here is that there are problems with securities exchanges that cannot be easily rectified by a few rule changes. One of the problems that Ariely identifies (for those of you too rushed to watch the video) is that people are more likely to steal almost anything other than actual cash money. Of course today’s global trading systems could never function with people stuffing money (by the billions) into envelopes and passing them around.

Again, I have enough of a sense of my own limitations to decline to make a suggestion for a different economic system, but again I think this yet again shows that capitalism is not something that naturally harmonizes with Christian ethics (or any ethics other than those of possibly Ayn Rand).