How Liberal Democracy Can Survive an Age of Spiraling Crises

In this episode of The Foreign Affairs Interview, Deputy Editor Kanishk Tharoor interviews Daron Acemoglu, a Nobel Prize-winning economist, about the overlapping crises facing the world today. Acemoglu discusses the impact of AI on the economy, arguing that its effect is often overstated and that a "winner-takes-all" dynamic drives much of the current investment. He draws historical parallels to past technological innovations, emphasizing that technology is not a disembodied force but is shaped by societies and states. The conversation shifts to the competition between the U.S. and China, with Acemoglu expressing concerns about the U.S. undermining its own economic strengths. He also addresses the role of institutions in national success, referencing his book "Why Nations Fail," and critiques the current state of liberal democracy, advocating for a "working-class liberalism" that prioritizes shared prosperity and community.