The Moral Consequences of Economic Growth

Benjamin Friedman talked about his book The Moral Consequences of Economic Growth, published by Knopf. In his book he argues that rather than being bad for our “moral character” economic growth typically brings to the general public greater opportunity, financial freedom, tolerance of diversity, social mobility, commitment to fairness, and dedication to democracy. When living standards plateau or decline, societies make little progress toward these goals and often regress as a stagnant economy can have an equally powerful negative effect on society fostering distrust and causing more people to be cautious with their money. He talked about the positive connections between growth and morality and recommended policies that could enhance the moral benefits created by rising standards of living. Following his remarks, Mr.DeMuth and Professor Etzioni joined Professor Friedman in a panel discussion. Then, the panelists responded to questions and comments from members of the audience. Mr. Ha close