Charles Bruner is a former Democratic Iowa legislator (1978-1990), was the founding director of Iowa Child and Family Policy Center (1990-2015, now Common Good Iowa), and is national director of the InCK Marks Initiative’s Child Health Equity Leadership Group.
For more than two centuries, economists have understood the economy through three essential elements: land, labor, and capital. From Adam Smith to David Ricardo, this framework helped explain how wealth is created—and how it is shared.
But something fundamental has changed.
Today, land is no longer just a passive input. It is strained—by climate change, resource depletion, and environmental degradation, concerns long emphasized by ecological economists such as Herman Daly.
Daron Acemoglu and Simon Johnson demonstrate that technological change is increasingly shaped in ways that replace rather than augment workers. Capital—through automation, artificial intelligence, and digital platforms—has become powerful enough to produce growth while using less and less labor.
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