Amid all the great changes afoot in the world, a trend is emerging that is as pervasive as it is critical. I call it an "ethical turn", a surge in popular activism, broad democratic demands and institutional reforms that mark a new era of ethical concern in our daily lives.

The furore over bankers' financial arrangements and the need for tighter monetary regulations is just one area where the ethical turn has come to light. Everyone from the rightfully indignant public to ministers and celebrities has joined calls for greater accountability. With luck, we are now on the cusp of truly ethical economic reform.

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