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Learning from Ricardo and Thompson : Machinery and Labor in the Early Industrial Revolution, and in the Age of AI

Acemoglu, Daron; Johnson, Simon - National Bureau of Economic Research - 2024

David Ricardo initially believed machinery would help workers but revised his opinion, likely based on the impact of automation in the textile industry. Despite cotton textiles becoming one of the largest sectors in the British economy, real wages for cotton weavers did not rise for decades. As...

Persistent link: https://www.econbiz.de/10014544695

Employment and Community : Socioeconomic Cooperation and Its Breakdown

Acemoglu, Daron; Wolitzky, Alexander - National Bureau of Economic Research - 2024

We propose a model of the interplay of employment relationships and community-based interactions among workers and … workplace favor exchange). Both workers and managers also exert effort in providing community benefits. The threat of losing … access to community benefits can motivate managers to keep employment soft; conversely, the threat of losing future …

Persistent link: https://www.econbiz.de/10015056099

Social Structure and Development : A Legacy of the Holocaust in Russia

Acemoglu, Daron - 2010

We document a statistical association between the severity of the persecution and mass murder of Jews (the Holocaust) by the Nazis during World War II and long-run economic and political outcomes within Russia. Cities that experienced the Holocaust most intensely have grown less, and cities as...

Persistent link: https://www.econbiz.de/10012462572

Equilibrium Analysis in the Behavioral Neoclassical Growth Model

Acemoglu, Daron - 2018

Rich behavioral biases, mistakes and limits on rational decision-making are often thought to make equilibrium analysis much more intractable. We show that this is not the case in the context of the neoclassical growth model (potentially incorporating incomplete markets and distortions). We break...

Persistent link: https://www.econbiz.de/10012481011

Learning and Disagreement in an Uncertain World

Acemoglu, Daron - 2006

Most economic analyses presume that there are limited differences in the prior beliefs of individuals, as assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian...

Persistent link: https://www.econbiz.de/10012466013

A Model of Behavioral Manipulation

Acemoglu, Daron; Makhdoumi, Ali; Malekian, Azarakhsh; … - National Bureau of Economic Research - 2023

We build a model of online behavioral manipulation driven by AI advances. A platform dynamically offers one of n products to a user who slowly learns product quality. User learning depends on a product's "glossiness,' which captures attributes that make products appear more attractive than they...

Persistent link: https://www.econbiz.de/10014437003

The Emergence of Weak, Despotic and Inclusive States

Acemoglu, Daron - 2017

Societies under similar geographic and economic conditions and subject to similar external influences nonetheless develop very different types of states. At one extreme are weak states with little capacity and ability to regulate economic or social relations. At the other are despotic states...

Persistent link: https://www.econbiz.de/10012455025

Technical Change, Inequality, and the Labor Market

Acemoglu, Daron - 2000

This essay discusses the effect of technical change on wage inequality. I argue that the behavior of wages and returns to schooling indicates that technical change has been skill-biased during the past sixty years. Furthermore, the recent increase in inequality is most likely due to an...

Persistent link: https://www.econbiz.de/10012470950

Labor- and Capital- Augmenting Technical Change

Acemoglu, Daron - 2000

I analyze an economy in which profit-maximizing firms can undertake both labor- or capital-augmenting technological improvements. In the long run, the economy looks like the standard growth model with purely labor-augmenting technical change, and the share of labor in GDP is constant. Along the...

Persistent link: https://www.econbiz.de/10012471231

How Large are the Social Returns to Education? Evidence from Compulsory Schooling Laws

Acemoglu, Daron - 1999

Average schooling in US states is highly correlated with state wage levels, even after controlling for the direct effect of schooling on individual wages. We use an instrumental variables strategy to determine whether this relationship is driven by social returns to education. The instrumentals...

Persistent link: https://www.econbiz.de/10012471339

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