The Power of Progress
“To make a better future, you have to believe in a better future”
In his magisterial book The Moral Consequences of Economic Growth, the economic historian Benjamin Friedman considered the historical relationship between economic growth and social values and identified a clear pattern. During periods of rising economic prosperity, people tend to be more tolerant, optimistic, and egalitarian. Periods of stagnation and recession, by contrast, have been characterized by pessimism, nostalgia, xenophobia, and violence. During times of scarcity, people are more likely to look for scapegoats than to pull together, more prone to zero-sum thinking, and more susceptible to the appeals of populists and demagogues.