Power and Progress

Our Thousand-Year Struggle Over Technology and Prosperity

By: Daron Acemoglu, Simon Johnson

Narrated by: Malcolm Hillgartner

Awarded the 2024 Nobel Prize in Economics, Daron Acemoglu and Simon Johnson overturn conventional wisdom about how economies work--revealing the untold story of who wins and who loses the rewards of prosperity--in a work that fundamentally transforms how we look at and understand the world.

Throughout history, technological change — whether it takes the form of agricultural improvements in the Middle Ages, the Industrial Revolution, or today’s artificial intelligence — has been viewed as a main driver of prosperity, working in the public interest. The reality, though, is that technology is shaped by what powerful people want and believe, generating riches, social respect, cultural prominence, and further political voice for those already powerful. For most of the rest of us, there is the illusion of progress.

Daron Acemoglu and Simon Johnson debunk modern techno-optimism through a dazzling, original account of how technological choices have changed the course of history. From vivid stories of how the economic surplus of the Middle Ages was appropriated by an ecclesiastical elite to build cathedrals while the peasants starved, to the making of vast fortunes from digital technologies today as millions are pushed towards poverty, we see how the path of technology is determined and who influences its trajectory.

To achieve the true potential of innovation, we need to ensure technology is creating new jobs and opportunities rather than marginalizing most people, through automated work and political passivity. We need to use the tremendous digital advances of the last half century to create useful and empowering tools, and seize back control from a small elite of hubristic, messianic tech leaders pursuing
their own interests.

With their breakthrough economic theory and manifesto for building a better society, Acemoglu and Johnson provide the understanding and vision to reimagine and reshape the path of technology and create true shared prosperity.

Worth your time

Great read…and these two just won the Nobel Prize in economics so certainly worth your time

Interesting thoughts on intersection where society, politics, food & energy scarcity and technology growth meet.

Thought provoking albeit at times showing some bias of thought but makes a strong effort on bringing distinctive problems along with growth if technology and its current path.

A different take on Technology’s impact

In the style of Acemoglu an interesting view of the role of technology on the progress of society. A cynical but realistic perspective: who benefits from technology developments? You might not agree 100 % with their view but it is still very interesting.

Great insights and analysis, little thought on solutions

I wish the authors spent more time contemplating solutions to the issues they are raising. The articulation of the issues is indeed compelling

The history of technology and it impact was insightful.

Good read a bit dry at times but with valuable insights. Definitely worth the time if you are interested in historical patterns of technology and potential impact of AI for our society.