This is a short mini-lecture about the 2024 Nobel in Economics awarded to Daron Acemoglu, Simon Johnson, and Jim Robinson. The video focusses on the recent book “Power and Progress” by Acemoglu & Johnson, and how recent technological progress has automated away good jobs that are socially valuable. The video specifically focusses on unions as an institution for worker power, the social value of collective agreements, and the welfare losses due to the automation of union jobs.
Video
The video is here