Transformation of Labor and Wages in the Industrial Age

Earlier this week, MIT's Daron Acemoglu and Simon Johnson were awarded the Nobel Prize in Economics for their groundbreaking research on how institutions influence economic development and the historical roots of economic inequalities. But we at the Next Big Idea Club were into these guys over a year ago when we featured Daron and Simon's book "Power and Progress." To celebrate their Nobel, we thought we'd bring Simon back to share the big ideas from that book.