Does the Free Market Corrode Moral Character?

The Templeton Foundation hosted an online discussion on the question: "Does the free market corrode moral character?" At least eight of the 13 respondents work for non-profit organizations. The Manhattan Institute's Kay Hymowitz answered "Yes, too often," and was particularly scathing about the Internet: "today the Internet is usurping television's long-held status as the chief sponsor of hedonism, materialism, and anarchic egotism." The whole thing is worth a read or a watch, but it seems to me the question itself is skewed. Why don't they ask if government interventions in free markets corrode moral character, or if socialism corrodes moral character? The Templeton Foundation has a lot of money to give away ("Roughly $1.5 billion in assets" ) and has seen some recent staff turnover. Link via the American Enterprise Institute's blog.