The Ethics of the Financial Crisis

Aldo Mascareño

HISTORICALLY, THE CONCEPT of crisis is closely-related to the evolutionary transformations of the eighteenth century in the United States,  Latin America and Europe, namely, to the transition from a stratified form of societal differentiation to the modern primacy of functional differentiation. In contemporary world society, we are not confronting a global change like that, but the concept of crisis is applied to different topics in many fields. While, in the eighteenth century, the crisis consisted of a distance between a utopian morality and the present, in the twenty-first century, its main concern becomes the uncertainty and risk of the present. In other words, the future was a known land for utopian thinkers; the problem was a present that could not be adjusted to this normative expectation.