Convocation: Benjamin Friedman

"The Moral Consequences of Economic Growth." Harvard University economist Benjamin Friedman argues that economic growth, far from fostering rapacious materialism, is a prerequisite for the creation of a liberal, open society. He contends that periods of robust economic growth, in which most people see their circumstances palpably improving, foster tolerance, democracy and generous public support for the disadvantaged. Economic stagnation and insecurity, by contrast, usher in distrust, retrenchment and reaction, as well as a tightfisted callousness toward the poor and a scapegoating of immigrants and minorities. Exploring two centuries of historical evidence, Friedman elucidates connections between economic conditions, social attitudes and public policy throughout the world.