Best thing I've read on this issue. Leon Wieseltier explains why it's really not the economy that's at issue and why you don't need to feign faith to have morality:
"liberals have once again been harshly taught that homo economicus--more concretely, homo Shrumicus--is a fiction. Money is often not the most important thing in the world for poor people, perhaps because they have so little of it. They do not define themselves only, or mainly, by what they lack; whereas they are rich in loves and principles, and so the communal and national and cultural and spiritual dimensions of their identity may loom larger than the economic dimension. (The Bush administration has demonstrated, by contrast, that economic man is more likely to be found among the wealthy, for whom money often does seem to be the most important thing in the world, perhaps because they have so much of it.)
So liberals must indeed develop a fuller and more vivid comprehension of the Americans whom they rightly wish to help; but that is all the intellectual contrition that they need muster. For they have values even when they do not have faith; and they should not contrive to have faith so as to gain values, unless they wish to degrade faith by promoting it mainly for its political utility, as some conservatives do."