Freakonomics Radio 666. This Is How Progress Happens
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Mar 6, 2026 
Joel Mokyr, economic historian and Nobel laureate who studies the roots of sustained technological growth. He argues culture fuels innovation and traces the industrial revolution to knowledge convergence. He discusses why GDP misses many welfare gains, the roles of immigration and risk-tolerant societies, and how AI, education, and institutional lag shape future progress.
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From Smoke Filled Rooms To A Thermostat Click
- Mokyr contrasts harsh historical winters with modern heating to show habitual appreciation of progress.
- He recounts families crowded round smoky fireplaces versus flipping a thermostat today.
GDP Misses The Real Gains From Innovation
- GDP understates welfare because it misses consumer surplus from new free or cheap services.
- Joel Mokyr uses anesthesia and free digital goods like GPS and photography to show huge welfare gains absent GDP impact.
Hockey Stick Happened Because Knowledge Converged
- The Industrial Revolution arose from a convergence of science and technology across electricity, steel, and chemistry.
- Mokyr points to breakthroughs like cheap electricity, the Bessemer process, and organic chemistry enabling broad, simultaneous applications.
