Journal of Economic Literature Vol. 62 No. 4 2024
Can Massive Technological Progress Hurt Workers? A Review of Power and Progress by Daron Acemoglu and Simon Johnson
Abstract
This book offers a radical thesis: Technological innovation often benefits elites while worsening conditions for workers, challenging the common view that technology always improves living standards. Through historical transitions like the Industrial Revolution, the authors illustrate how innovations have frequently led to worker exploitation. They argue that governance, rather than competition, determines whether technological advances benefit society. In the digital age, platforms exploit user data without fair compensation, causing harm through addictive services and poor regulation. The book calls for stronger regulations to protect consumers and ensure that innovation aligns with societal well-being, especially as artificial intelligence spreads.
- DOI
- 10.1257/jel.20241761
- Volume
- 62
- Issue
- 4
- Pages
- 1671-1681
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref