4min chapter

The Joe Walker Podcast cover image

The Moral Causes And Consequences Of Economic Growth — Benjamin M. Friedman

The Joe Walker Podcast

CHAPTER

The Moral Consequences of Economic Growth

Since 1970, growth has predominantly gone to those who are already better off. When people feel they must protect their economic position in a tougher world, they divert their time and resources to the zero-sum game of distribution. Rent-seeking replaces creation, and we can get into a vicious circle that impoverishes everyone. I would certainly think it's a cause of slower growth.

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