Technological Progress and Societal Impact

The episode discusses the notion that technology does not inherently guarantee societal progress, framing it as a complex struggle influenced by various factors. Daron Acemoglu and Simon Johnson emphasize that historical technological advancements might not have universally benefitted everyone, citing the Industrial Revolution as a prime example where initial gains were slow to reach the broader population. They argue that without proper institutional frameworks, such as democratic participation and worker organization, the benefits of technological change are disproportionately distributed. This perspective challenges the common belief that technology automatically leads to social improvement, advocating instead for deliberate efforts to ensure equitable outcomes from innovations.