S1 E8: Power Dynamics, Elitism, and Innovations with Daron Acemoglu from MIT

In this episode, our guest is Daron Acemoglu from MIT and we talked about innovation dynamics, automation, elitism, institutions, history, and more! 06:05 Automation and declining labor share 17:20 But why do firms choose (so-so) automation? 25:00 Education is a solution! Or is it NOT? 27:20 First Industrial Revolution, Social Change, Elitism 30:50 Democracy and automation 34:40 What will governments do then? Cheezy Questions: 40:40 What is Daron's production function? 42:00 Which economist or philosopher had the largest impact on your thinking? 43:30 Privilege to write a non-causal paper in Economics