Daron Acemoglu on Inequality, Institutions, and Piketty

<p>Daron Acemoglu, the Elizabeth and James Killian Professor at the Massachusetts Institute of Technology, talks with EconTalk host Russ Roberts about his new paper co-authored with James Robinson, &quot;The Rise and Fall of General Laws of Capitalism,&quot; a critique of Thomas Piketty, Karl Marx, and other thinkers who have tried to explain patterns of data as inevitable &quot;laws&quot; without regard to institutions. Acemoglu and Roberts also discuss labor unions, labor markets, and inequality.</p>