The Power of Vision in Shaping Technology Development

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Vision, as the aspirations of powerful individuals and society, plays a pivotal role in determining the direction of technology development. For instance, in the realm of artificial intelligence, the collective vision of companies influences whether the focus is on achieving AGI quickly, prioritizing safety and equality, or developing tools to assist workers. The vision guides decision-making and shapes the outcomes by setting acceptable norms and objectives.

Change is scary. But sometimes it can all work out for the best. There's no guarantee of that, however, even when the change in question involves the introduction of a powerful new technology. Today's guest, Daron Acemoglu, is a political economist who has long thought about the relationship between economics and political institutions. In his most recent book (with Simon Johnson), Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity, he looks at how technological innovations affect the economic lives of ordinary people. We talk about how such effects are often for the worse, at least to start out, until better institutions are able to eventually spread the benefits more broadly.

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Blog post with transcript: https://www.preposterousuniverse.com/podcast/2024/07/22/283-daron-acemoglu-on-technology-inequality-and-power/

Daron Acemoglu received a Ph.D. in economics from the London School of Economics. He is currently Institute Professor at the Massachusetts Institute of Technology. He is a fellow of the National Academy of Sciences, the American Academy of Arts and Sciences, and the Econometric Society. Among his awards are the John Bates Clark Medal and the Nemmers Prize in Economics. In 2015, he was named the most cited economist of the past 10 years.

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