21The Deepest Cause Is Philosophical
THE DEEPEST CAUSE OF THE FINANCIAL CRISIS IS NOT ECONOMIC policy. The fundamental cause is philosophical. The financial crisis is a result of the philosophical ideas that have been taught in the liberal arts departments of the most prestigious universities in America for more than 50 years.
The fundamental cause of the financial crisis is a combination of altruism and pragmatism. Altruism does not mean kindness toward others; it literally means “other-ism.” Altruism is defined as selflessness, that is, believing that everyone else is more important than you are. The good of the individual is irrelevant. It is only the good of “others” that matters, and this is interpreted by liberals as being the good of ...
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