Daron Acemoglu has been awarded the 2024 Nobel-prize for Economic Science. This is a great testament to his impressive career. But the award was given for his early work on global inequality, together with Johnson and Robinson. The Swedish Riksbank did not pay attention to his new work on inequality within rich countries. Should we? And is his new theory even consistent with the old?

I got to ask this from Acemoglu during our 2023 interview. I thought this would be a good time to re-post his answer. In this highlight, we also discuss:

If you want to enjoy the full show, head to episode 26 of this feed.

You can also read my essay breakdown of Acemoglu's theory here. Get these and other resources at ⁠OnHumans.Substack.com⁠.

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KEYWORDS

Economics | economic history | wage-stagnation | wage growth | inequality | economic inequality | automation | AI | robotics | US economy | German economy | Nobel-prize | labour unions | worker power | Elon Musk | Tesla | car manufacturing | co-determination | humanity