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Daron Acemoglu on Inequality, Institutions, and Piketty

EconTalk

The Social and the Political Context of the Industrial Revolution

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The social and political context determined the two most important factors shaping wages, human capital and technology. Together with these institutional political institutional changes came a whole revolutionary set of changes in the education syteem. So education ceased to be an elete activity, or the sons and daughters of the very prosperous, privileged part of society must sons. The sons tisere at that time, mostly the sons a absolutelys yess. That's what i should have said, er and and became basically available to the masses.

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