Humanity's Thousand Year Struggle Over Technology and Prosperity
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Jul 31, 2023
Delve into the historical struggles between technology and prosperity, from medieval advancements benefiting the elite to today's AI challenges threatening jobs. Explore critiques of techno-optimism and the lessons learned from past technological failures like the Panama Canal. Discover how historical reforms fostered equitable growth, and consider the urgent need for a new labor movement to protect workers in this era of automation. Can we democratize AI and prioritize human collaboration over corporate control? Tune in for thought-provoking insights!
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insights INSIGHT
Not Everyone Benefits from Technology
Technology doesn't always benefit everyone.
Progress has winners and losers, and the distribution of benefits isn't guaranteed.
question_answer ANECDOTE
Smith and Ricardo on Technology
Even Adam Smith, a champion of progress, didn't consider that technology could cause joblessness.
David Ricardo initially agreed but later changed his mind, acknowledging technology's potential for unemployment.
insights INSIGHT
Capital Doesn't Always Win
Elites don't always benefit from technological revolutions; disruptions and losses occur.
A pro-human technological path can also benefit businesses, as seen in Sweden's post-depression model.
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In 'The Narrow Corridor', Daron Acemoglu and James A. Robinson explore the delicate balance between state capacity and societal power, arguing that this balance is crucial for achieving liberty and prosperity. They introduce the concept of the 'Shackled Leviathan', where a strong state is kept in check by an active society, preventing both despotism and statelessness. The book uses historical examples to illustrate how this balance can lead to successful governance and economic growth.
Power and progress
G. C. Thornley
Why Nations Fail
The Origins of Power, Prosperity and Poverty
James A. Robinson
Daron Acemoglu
Daron Acemoglu and James Robinson argue that the success or failure of nations is determined by their political and economic institutions. They present a comprehensive theory based on 15 years of research, using historical examples from the Roman Empire, the Mayan city-states, the Soviet Union, and various other regions to demonstrate how inclusive institutions foster economic growth and prosperity, while extractive institutions lead to poverty and stagnation. The authors discuss critical questions such as China's economic growth, the future of the United States, and the most effective ways to help countries move from poverty to prosperity[1][4][5].
In the Middle Ages, agricultural advancements enriched the nobility and the Church, which used the wealth generated to build themselves magnificent houses and cathedrals, while the peasants went hungry. The early years of England’s industrial revolution brought stagnant incomes for the working class. In recent decades technological advances have put untold amounts of wealth into the hands of the 0.1 per cent, while today, the sudden leap forward in artificial intelligence is threatening jobs and democracy through automation, data collection, and surveillance.
But does it have to be this way? MIT economist Daron Acemoglu has an alternative vision. His big idea: wrest control of AI from the hands of a few arrogant tech leaders and empower society instead. Is technology too important to leave to the billionaires? Can AI really be democratised? Listen now to this conversation hosted by Carl Miller, recorded in London.
Intelligence Squared 
