Power and Progress: A Thousand-Year Struggle

Acemoglu and Johnson's Power and Progress examines the historical and contemporary relationship between technological advancements, economic prosperity, and inequality. The book argues that technological progress does not automatically lead to widespread benefits, emphasizing the crucial role of political and social choices in shaping its impact. Using historical examples ranging from the Industrial Revolution to the digital age, the authors illustrate how powerful entities often steer technological development to maximize their own gains, potentially at the expense of workers and shared prosperity. They propose policy solutions to redirect technological innovation towards more inclusive outcomes, including wealth taxes, digital advertising taxes, and strengthened worker bargaining power. Ultimately, the book stresses the need for democratic institutions and diverse voices to ensure technology serves the common good.