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nd more financially prudent; they were more aware of the struggles of others. In limited respects, perhaps the recession will leave society better off. At the very least, it has awoken us from our national fever dream of easy riches and bigger houses, and put a necessary end to an era of reckless personal spending.
But for the most part, these benefits seem thin, uncertain, and far off. In The Moral Consequences of Economic Growth, the economic historian Benjamin Friedman argues that both inside and outside the U.S. ,lengthy periods of economic stagnation or decline have almost always left society more mean-spirited and less inclusive, and have usually stopped or reversed the advance of rights and freedoms. Anti-immigrant sentiment typically increases, as does conflict between races and classes.
Income inequality usually falls during a recession, but it has not shrunk in this one,. Indeed, this period of economic weakness may reinfo
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