Marketplace Morning Report A conversation with Nobel laureate Joel Mokyr
Oct 15, 2025
Nobel laureate Joel Mokyr discusses how technological advancements can drive economic growth, provided institutions keep pace. He emphasizes that failing institutions can stifle progress and warns about the risks of rapid change. Mokyr also highlights AI's potential as a valuable research tool, rather than a threat to jobs. Additionally, recent bankruptcies in private credit markets raise alarming questions about overall financial stability, with concerns about hidden risks linked to major banks.
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Institutions Must Keep Pace With Technology
- Rapid technological advances can outpace institutions, creating dangerous disequilibrium in society.
- Joel Mokyr warns that institutions must evolve with technology or power may be abused.
AI As Accelerant, Not Replacement
- Joel Mokyr rejects apocalyptic predictions about AI replacing humanity and sees AI as a research tool.
- He expects AI to accelerate knowledge and economic growth while cautioning about institutional response.
Prioritize Flexible, Transferable Training
- Train people to be adaptable with flexible, transferable skills to survive technological disruption.
- Mokyr suggests societies provide agile training so workers can switch tasks when jobs become obsolete.