Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity

Abhijit Banerjee and Esther Duflo, authors of The Power of Habit

A bold new interpretation of why technology benefits the elites - and how we must reshape the path of innovation to create true shared prosperity.

A thousand years of history make one thing clear: progress is not automatic but depends on the choices we make.

Much of the wealth generated by agricultural advances during the Middle Ages was captured by the Church while the peasants starved. The first hundred years of industrialization delivered stagnant incomes for workers, while making a few people rich. Throughout the world today, digital technologies and artificial intelligence increase inequality and undermine democracy. It doesn't have to be this way.

Power and Progress demonstrates that the path of technology was once - and can again be - brought under control.

With their breakthrough economic theory and manifesto for a better society, Acemoglu and Johnson provide the vision to reshape how we innovate so we can create real prosperity for all.

Acemoglu and Johnson's economic theory and manifesto for a better society offer a roadmap for a more equitable and prosperous future. By challenging the dominant narratives of technology and its impact on society, they provide a clear vision for how we can reshape the path of innovation to create true shared prosperity.

Through their work, Acemoglu and Johnson have shown that the power of technology can be harnessed to benefit all, rather than just a select few. They advocate for policies that promote innovation and investment in education and healthcare, while also addressing the underlying social and economic inequalities that perpetuate poverty and inequality.

By embracing the principles outlined in Power and Progress, we can create a world where technology is a force for good, driving economic growth and improving the lives of people around the globe. It is time to take control of the path of technology and shape a future that is fair, just, and sustainable for all.