Does Technological Advancement Automatically Lead to Social Prosperity?
A Review of Daron Acemoglu’s New Book
Introduction
Daron Acemoglu’s Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity, published in May 2023, raises a fundamental question: Does technological advancement inherently bring social progress and prosperity? In this review, I share my thoughts on the book and its key arguments. (Note: This review was written rather quickly, so some parts may feel raw and unpolished.)
I first encountered Acemoglu’s work during my Comparative Political Economy (CPE) studies in my political science master’s program between 2014 and 2015. His Economic Origins of Dictatorship and Democracy was particularly enlightening, exploring how authoritarian and democratic regimes make political choices regarding economic resource distribution. Acemoglu has extensively researched the effects of political regimes on redistribution policies and inequality.
Previously referred to as "Esmoglu" in some texts, his name is now commonly written as "Acemoglu." Of Turkish descent, he is one of MIT’s twelve Institute Professors, a prestigious distinction in the economics department. In South Korea, he is best known for Why Nations Fail, a book that illustrates how weak institutional foundations can lead to governmental failures.
The Core Question: Does Technology Drive Societal Progress?
In Power and Progress, Acemoglu challenges the assumption that technological progress naturally leads to social prosperity. While the Industrial Revolution increased economic output in Europe, it also reinforced structures of social control, as symbolized by Foucault’s concept of the "panopticon." This raises a pressing question: Is the bright future promised by tech visionaries like Elon Musk truly inevitable?
Acemoglu’s research consistently emphasizes that a prosperous future does not materialize on its own. Instead, it requires conscious collective efforts—political culture formation, institutional evolution, and the continuous refinement of social norms and agreements. This perspective deeply resonated with me, and I largely agree with his assertion.
Lessons from History: Two Defining Moments
Acemoglu’s historical analysis highlights two particularly striking moments:
The rise of labor unions during the Industrial Revolution – Workers organized to demand fairer working conditions and greater economic equity.
The role of social media in political polarization – Facebook’s influence on events like the Rohingya crisis in Myanmar exemplifies how unchecked technological power can drive societal division.
Throughout history, progress has not been automatic—it has required active intervention. The book proposes various solutions, in line with Acemoglu’s previous works, to counterbalance technological excesses.
What Must We Do? Policy Considerations
Acemoglu offers several policy recommendations to ensure that technology serves societal well-being rather than exacerbating inequalities. Below are his key proposals, along with my thoughts:
Strengthening labor unions – While historically effective, unions may be less relevant today given the dominance of service economies over manufacturing.
Empowering civil society – In my view, civil society organizations (CSOs) are more critical than ever. They must play a larger role in holding tech giants accountable.
Regulating Big Tech – Various measures have been proposed:
Carbon tax and tech accountability – Similar to carbon credits, ethical tech behavior should be incentivized. However, enforcing such standards remains a challenge.
Breaking up Big Tech – Forcing corporate splits may not be viable, as firms can reorganize under holding companies, much like South Korean chaebols.
Tax reform – This is the most pressing need. While labor is heavily taxed, capital remains relatively untaxed. I support a tech tax: an additional 4% levy on major Big Tech firms on top of the current 21% corporate tax rate in the U.S.
Worker retraining programs – Education is essential to enhancing human capital and ensuring employment in an AI- and automation-driven world.
Legislative oversight – Governments must regulate tech firms to prevent them from infringing on human rights, rather than relying on self-regulation.
Repealing Section 230 – Social media giants like Meta and Twitter enjoy the benefits of major media companies but evade the responsibilities of traditional news outlets.
Digital ad tax – This could curb tech monopolies and fund public initiatives promoting humanistic research and ethical technology development.
Wealth tax – Extreme inequality must be addressed. Heavily taxing inheritances above $100 million is a reasonable step toward redistribution.
If I had to choose one policy priority, it would be tax reform targeting Big Tech. Redistribution alone is insufficient; direct taxation is the fastest way to address inequality.
A Power Struggle: Government vs. Big Tech vs. Civil Society
While Acemoglu presents a compelling argument, I would rate this book 4 out of 5 stars. The missing element is an acknowledgment that Big Tech is not passively awaiting regulation. These corporations preemptively innovate, market the supposed benefits of their technologies, and, if necessary, find legal loopholes or even threaten to withdraw services from specific markets. In the current landscape, I believe Big Tech holds more influence than governments or civil society.
Without active public discourse and regulatory intervention, our future may resemble episodes of Black Mirror—a dystopia of monopolized technology and deepening inequalities. This raises a critical question: How can South Korean civil society create independent, non-governmental forums to discuss and regulate emerging technologies? Key concerns include AI, gene editing, autonomous vehicles, and labor rights in gig economies.
Conclusion: Public Awareness and Engagement Are Essential
Three forces will shape our lives in the coming decade: geopolitical crises, the AI revolution, and climate change. Technology is no longer a peripheral topic—it is embedded in every aspect of our existence. AI, gene editing, robotics, and automation will soon wield unprecedented power over human life.
To prevent a dystopian future dominated by unchecked corporate monopolies, citizens must actively engage with technological issues. We need widespread public discourse to define ethical norms and social agreements regarding technology's role in our lives.
While Silicon Valley’s entrepreneurial spirit has driven innovation, the sheer scale and influence of Big Tech demand oversight. If left unregulated, the wealth and opportunities generated by technological advancements will disproportionately favor the elite, leaving lower-income workers and asset-poor individuals further behind.
Understanding both the promises and perils of technological advancements is crucial. Public engagement, civil society action, and regulatory foresight are necessary to ensure that technology serves all of humanity rather than a privileged few.
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