I'm just pushing absolutely argument that I think that larger labor market is much more protecting of workers. So we'll agree to disagree on this to some extent. All of these transactions between employers and employees are embedded in a larger labor market. Technology improves the average productivity, which means how much output I produce as a firm with the same number of employees by twofold. The equilibrium is going to lead to twofold increase in wages. And if you want to think about it that way, you know, this would discuss this as an illustration in the book as well.
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.