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Power and Progress

Our Thousand-Year Struggle Over Technology and Prosperity

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Power and Progress

Written by: Daron Acemoglu, Simon Johnson
Narrated by: Malcolm Hillgartner
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About this listen

 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.
 Economics History & Culture Politics & Government Technology Capitalism Socialism Computer Science Artificial Intelligence Business Economic disparity Taxation Innovation Economic Inequality
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I liked the authors' illustrations/stories from economic history. That was stuff I didn't know and was interested to learn about. In their analysis of current history, I strongly disliked hearing the authors' personal opinions, stated as if unquestionable fact, about what was truth or misinformation related to Trump. I prefer to be persuaded rather than preached to.

A mixed bag

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The author expounds on their thesis without proving it. Great account of historical events. In later chapters the author gives incorrect statistics about renewables being cheaper than fossil fuels.

Key thesis not defended

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Not in the same league as "Why the Nations Fail' but an important book nonetheless.

A different look at the importance of technology in the progress of humanity.

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Broadly, it’s very insightful and stays on track. But weak arguments for the central thesis that technological advancement is good if we choose for it to be. Kind of just ends every section with that. The book traces technological advancements with negative outcomes (which is pretty interesting in itself) but doesn’t make a strong case for its central point that continuously is repeated. Still an interesting listen overall.

Solid

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Long historic narrative highlighting many technological events. Some are applauded, others criticized.

Would benefit from a better defined and argued set of ideas to unify a vision, and to clarify harm vs basic research.

Lacks systematic coherence

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