Acemoglu on Automation: The Nobel Laureate Vs. the Robots (with Daron Acemoglu)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 22 October 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Since Daron Acemoglu just won the 2024 Nobel Memorial Prize in Economic Sciences alongside MIT Sloan professor Simon Johnson and University of Chicago professor James Robinson, we’re revisiting this powerful episode featuring Acemoglu’s insights from 2023. In his groundbreaking book Power and Progress, Acemoglu exposes how the elite have weaponized technology to tighten their grip on wealth and influence, and explains how we can ensure that technological progress works for everyone, not just the wealthy few. This episode originally aired on August 22, 2023. Daron Acemoglu is the Institute Professor of Economics at MIT, the university’s highest faculty honor, and a 2024 Nobel laureate. For the last twenty-five years, he has been researching the historical origins of prosperity, poverty, and the effects of new technologies on economic growth, employment, and inequality. He is an author (with James Robinson) of The Narrow Corridor and the New York Times bestseller Why Nations Fail. Twitter: @NarrowCorridor Further reading: Trio of professors win Nobel economics prize for work on post-colonial wealth Democracy is in a ‘tough stretch.’ New Nobel winners explain how to strengthen it Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity The Narrow Corridor: States, Societies, and the Fate of Liberty Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon, @NickHanauer, @civicaction Instagram: @pitchforkeconomics Threads: pitchforkeconomics YouTube: @pitchforkeconomics Substack: The Pitch

Transcript

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0:00.0	We're very excited this week to learn that Darren Asamoglu, Simon Johnson and James
0:06.9	Robinson received this year's Nobel Prize in economics for their work showing that inclusive political institutions
0:15.5	help create inclusive and prosperous economies.
0:20.0	So we thought this would be a great time to re-air a conversation we had with Asamoglu about a book he wrote with Simon Johnson,
0:29.0	Power and Progress, Our Thousand Year Struggle over technology and prosperity. We hope you enjoy it.
0:37.0	The rising inequality and growing political instability that we see today are the direct result of decades of bad economic theory.
0:46.0	It's time to build our economy from the bottom up and from the middle out, not the top down.
0:51.0	Middle out economics is the answer. Because Wall Street didn't
0:55.0	build this country. Great middle class built this country. The more the middle class
0:59.6	thrives, the better the economy is for everyone, even rich people like me.
1:05.0	This is Pitch Fork Economics with Nick Hanauer, a podcast about how to build the economy from the middle out.
1:18.0	Welcome to the show. I'm Nick Hanauer, founder of Civic Ventures.
1:27.0	I'm David Goldstein, Senior Fellow, at Civic Ventures.
1:34.0	Goldie today, I'm so fired up because we get to talk to a returning guest, but definitely one of our favorite economists in the
1:45.4	whole wide world and that's a short list.
1:47.2	Diron, yeah, Jerome, Diron on one hand.
1:52.4	Diron Asamuglu, who is the Institute Professor of Economics in MIT, which is the
1:58.5	University's highest faculty honor, and he has written a ton of incredibly consequential books. the but in addition the narrow corridor and he has a new book out that is super
2:16.7	interesting and consequential called Power and Progress our thousand year
2:21.2	struggle over technology and prosperity with his
2:25.6	colleague Simon Johnson and in that book they argue as we have argued
2:30.8	before that there is only a loose correlation between technology and the
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