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Can Massive Technological Progress Hurt Workers? A Review of Power and Progress by Daron Acemoglu and Simon Johnson

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  • Fiona Scott Morton

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.

Suggested Citation

  • Fiona Scott Morton, 2024. "Can Massive Technological Progress Hurt Workers? A Review of Power and Progress by Daron Acemoglu and Simon Johnson," Journal of Economic Literature, American Economic Association, vol. 62(4), pages 1671-1681, December.
    • Handle: RePEc:aea:jeclit:v:62:y:2024:i:4:p:1671-81
    DOI: 10.1257/jel.20241761
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    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • J80 - Labor and Demographic Economics - - Labor Standards - - - General
    • N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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