The Importance of Competition in the Industrial Revolution

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There's a huge debate in economic history as to how the Industrial Revolution treated workers. The rough period we're talking about here is something like 1750 to 1880, particularly in England. There are very, very loud views on both sides of this issue. But I'm fairly confident because there you have to bring in what was happening to their living conditions and work autonomy.

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.