Power and Progress is a thought-provoking exploration of how technological advancements have shaped societies over the past 1,000 years—often benefiting elites while......
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Power and Progress is a thought-provoking exploration of how technological advancements have shaped societies over the past 1,000 years—often benefiting elites while leaving the majority struggling for prosperity. Acemoglu and Johnson, renowned economists, challenge the assumption that technological progress naturally leads to shared economic benefits. Instead, they argue that the impact of technology depends on who controls it and how it is implemented.
The book examines historical examples, from the agricultural revolution to the Industrial Age, and draws parallels to today’s AI and automation revolution. The authors highlight how technological shifts can either widen inequality or drive shared growth, depending on the choices societies make. They advocate for policies and reforms that steer innovation toward inclusive prosperity, rather than reinforcing corporate and elite dominance.
Why Read This Book
- Provides a historical perspective on how technology has shaped economies over centuries.
- Challenges the myth that technological progress automatically leads to economic well-being for all.
- Analyzes the role of AI, automation, and digital technologies in shaping the future of work and society.
- Advocates for policy solutions to ensure technology benefits broader populations rather than only elites.
- Written by leading economists, making it a must-read for those interested in economics, technology, and public policy.
About the Authors
Daron Acemoglu is an MIT professor of economics and one of the most influential economists of our time. He is best known for co-authoring Why Nations Fail, a groundbreaking book on political and economic institutions. His research focuses on economic growth, inequality, and the effects of technological change on labor markets.
Simon Johnson is also an MIT economist, former chief economist at the International Monetary Fund (IMF), and co-author of 13 Bankers, a critical analysis of financial crises. His expertise lies in economic development, financial stability, and the relationship between technology and inequality.
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