For a long period of time, exceeding half a century, there were all these amazing innovations, flood of machines. But at the same time, wages were stagnant in Britain. Wages start increasing in the british economy only in the towards the middle of the nineteenth century. And when do they why do they start increasing? Well, it's over determined, but we know several things happen around that time.
Economist and author Daron Acemoglu of MIT discusses with EconTalk host Russ Roberts the challenge of shared prosperity and the policies that could bring about a more inclusive economy. Acemoglu argues for the importance of good jobs over redistribution and makes the case for the policies that could lead to jobs and opportunities across skill levels.