Power and progress : our thousand-year struggle over technology and prosperity / Daron Acemoglu and Simon Johnson.
"Two bestselling authors 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"-- Provided by publisher.
Artificial intelligence and other innovative technologies won't guarantee a rising standard of living for workers, according to this lucid manifesto. MIT economists Acemoglu and Johnson explore historical instances of new technology failing to pay off for workers: improved agricultural practices and equipment in medieval Europe conferred few benefits on peasants while lords and churchmen expropriated the increased output; the first century of the Industrial Revolution brought no income gain to laborers; recent advances in digital technology have yielded stagnant working-class wages while tech moguls make fortunes. But another path of broadly shared prosperity is possible, the authors contend, citing the post-WWII era when strong unions, government regulations, and relatively enlightened corporate management ensured that workplace automation, rather than de-skilling and discarding workers, improved their marginal productivity and wages and created plenty of higher-skilled jobs. Acemoglu and Johnson give an incisive analysis of the economics of labor and technology, along with a trenchant critique of the "techno-optimism" of corporate visionaries, though their own ideas about what a truly worker-friendly artificial intelligence might look like remain hazy. Still, this is a stimulating call for social and political action to ensure the rising tide of innovation lifts all boats.
- ISBN: 9781541702530
- ISBN: 1541702530
- Physical Description: vii, 546 pages, 16 unnumbered pages of plates : illustrations ; 25 cm
- Edition: First edition.
- Publisher: New York : PublicAffairs, 2023.
- Copyright: ©2023
|Bibliography, etc. Note:||
Includes bibliographical references (pages 475-516) and index.
|Formatted Contents Note:||
Prologue: What is progress? -- Control over technology -- Canal vision -- Power to persuade -- Cultivating misery -- A middling sort of revolution -- Casualties of progress -- The contested path -- Digital damage -- Artificial struggle -- Democracy breaks -- Redirecting technology.
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|Subject:||Technology > Social aspects.
Technology > Economic aspects.
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