Schwartz discusses the disturbing trend of the degradation of wisdom in modern society. He comments that we need both moral will (the desire to do the correct thing) and moral skill (the ability to do it in the correct way). He points out that whenever bad things happen we react by building more rules and more incentives, neither one of which address the underlying problem: a lack a wisdom. Instead, more rules just prevent us from having to think and increased incentives push us to act in our self-interest, stripping away whatever appeal we would make to our personal responsibility.
Barry Schwartz: The real crisis? We stopped being wise (TED)