Might be better to call it a lack of integrity or ethics rather than morals. With the "moral" argument, it is too easy to confuse with the Republican take on personal responsibility and personal morality, which is a separate (but probably not insignificant) problem of its own.

During my time at university, I never heard or was taught that the ends justify any means. Quite the opposite, in fact. I don't think this problem comes from higher education but rather primary education, both in the homes and schools. Post 1960's, parents have either quit teaching ethics out of self-absorption, or they have been unable to put the time into it due to work schedules.

We've sacrificed some, but not all, of our values on the altar of materialism. While some families need two workers just to make ends meet, its still the case that most do not. Cut out the "essentials" from the last 30 years (2nd or 3rd cars, 3000 ft2 house, 400 cable channels, big screen TV's, etc. etc.) and it's a different picture. More mothers (or fathers!) staying home is a start. Really taking time away from individual pursuits in order to teach one's children some values is an investment worth making.

Off my soapbox now. Cut my ideas to shreds if you wish.