Pascal: If you agree that quasi rents are relevant, then automation also has a rent shifting role. And the third one is what we call vision and that's why vision plays such an important role in my book with Simon. But I just want to alert listeners. This conversation could go on for another hour, but because both Aaron and I both face external constraints. We're not going to get to chat GPT and AI the way we might have. It's okay to have one that looks at these deeper philosophical issues.
Economist and author Daron Acemoglu of MIT discusses his book Power and Progress with EconTalk host Russ Roberts. Acemoglu argues that the productivity and prosperity that results from innovation is not always shared widely across the population. He makes the case for the importance of regulating new technologies to ensure that the benefits of innovation are distributed equitably.