Daron Acemoğlu hits back at The Economist: 'It feels like a hit piece'

An unsigned article published in The Economist magazine contained harsh criticisms directed at Nobel laureate Prof. Daron Acemoğlu. The piece targeted Acemoğlu's academic work, his approach to economic policies, and his influence on debates surrounding artificial intelligence.

The article included anonymous assessments from some economists, suggesting that while Acemoğlu's theoretical work is "useful," these models have been used to "support populist policies that have been tried and failed before." The article also cited comments regarding economic writer Noah Smith's long-standing critical stance toward Acemoğlu.

The criticisms in the magazine extended beyond the work that formed the basis for Acemoğlu winning the 2024 Nobel Prize in Economics alongside Simon Johnson and James Robinson, reaching into his views on artificial intelligence. The article argued that Acemoğlu's influence on AI debates was evident in a statement signed by some economists, and claimed that this approach was not sufficiently clear.

Acemoğlu expressed his discomfort with the article in a statement on his social media account. The renowned economist stated, "I am not at all happy with The Economist's article; it feels like a hit piece. There is a background to this, which is more concerning."

Acemoğlu noted that he has requested the magazine grant him a right of reply, adding, "I am waiting for their response. If it is not in the magazine, I will share my response here."

The controversy coincides with the release of Acemoğlu's book, "Power and Progress" (published in Turkish as "Hangi Liberal Demokrasi"), which addresses the recent crisis of liberal democratic institutions. In his review of the book, Thomas Piketty stated that the work presents a strong argument for the "reconstruction of Roosevelt-style working-class liberalism."