Democracy is in the dumps. OK, that's a bit dramatic. But it's definitely not working as well as it used to. Good thing Daron Acemoglu — Nobel laureate, MIT Institute Professor, and one of the world's most-cited economists — has a plan to fix it. Today on the show, he explains why liberal democracy has faltered in the post-industrial age and makes the case for upgrading it to a new "working-class liberalism" built around good jobs, strong communities, and greater tolerance. We also discuss what today's populist movements get right and wrong, and why immigration has become such a powerful political fault line. Plus: Why Daron, once skeptical that AI would amount to much economically, now thinks a transformation larger than the Industrial Revolution is on the table. His new book is What Happened to Liberal Democracy? Remaking a Politics of Shared Prosperity. __________ 🎥 The Next Big Idea is now on YouTube! 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