POWER AND PROGRESS

WINNERS OF THE 2024 NOBEL PRIZE FOR ECONOMICSLONGLISTED FOR THE BAILLIE GIFFORD PRIZELONGLISTED FOR THE FINANCIAL TIMES AND SCHRODERS BUSINESS BOOK OF THE YEARSHORTLISTED FOR THE LIONEL GELBER PRIZEA FINANCIAL TIMES TECHNOLOGY BOOK OF THE YEARUPDATED WITH A NEW PREFACE’The blueprint we need for the challenges ahead’ Shoshana Zuboff’If you are not already an addict of Daron Acemoglu and Simon Johnson’s previous books, Power and Progress is guaranteed to make you one’ Jared Diamond’A breathtaking tour of the history and future of technology’ Abhijit Banerjee and Esther DufloA bold new interpretation of why technology benefits the elites – and how we must reshape the path of innovation to create true shared prosperity.

A thousand years of history make one thing clear: progress is not automatic but depends on the choices we make. Much of the wealth generated by agricultural advances during the Middle Ages was captured by the Church while the peasants starved. The first hundred years of industrialization delivered stagnant incomes for workers, while making a few people rich. Throughout the world today, digital technologies and artificial intelligence increase inequality and undermine democracy. It doesn’t have to be this way. Power and Progress demonstrates that the path of technology was once – and can again be – brought under control.  With their breakthrough economic theory and manifesto for a better society, Acemoglu and Johnson provide the vision to reshape how we innovate so we can create real prosperity for all.

Daron Acemoglu and Simon Johnson were awarded the Nobel Prize in Economic Sciences on 14 October 2024.