Technology Trap: Capital, Labor, and Power in the Age of Automation book cover

Technology Trap

Capital, Labor, and Power in the Age of Automation

Carl Benedikt Frey
4.13(597 Reviews)

Overview of Technology Trap

In "The Technology Trap," Oxford economist Frey reveals how automation creates winners and losers throughout history. Named Financial Times Best Book, it explains why robot taxes gained traction and why Niall Ferguson calls it "vital" for understanding our AI-driven future.

Key Themes in Technology Trap

  • technological unemployment
  • labor replacing innovation
  • industrial revolution inequality
  • automation anxiety
  • political resistance to progress

Quotes from Technology Trap

  • Technological progress has been a central driver of rising living standards since the Industrial Revolution.

  • "How will it be possible for me to feed the populace?"

  • The Industrial Revolution caused immense suffering that we've largely forgotten.

  • New factory jobs were designed specifically for children.

  • Replacing technologies render jobs obsolete.

Characters in Technology Trap

  • Carl Benedikt FreyAuthor and economic historian
  • VespasianRoman Emperor who resisted labor-saving devices
  • Queen Elizabeth IMonarch who denied patents to protect workers
  • William LeeInventor of the stocking-frame knitting machine
  • Denis PapinInventor of a steam-powered boat

About the Author

About the Author of Technology Trap

Carl Benedikt Frey, author of The Technology Trap: Capital, Labor, and Power in the Age of Automation, is a Swedish-German economist and Oxford University professor renowned for his expertise on technology’s impact on labor markets and economic history.

As the Dieter Schwarz Associate Professor of AI & Work at the Oxford Internet Institute and Director of the Oxford Martin School’s Future of Work Programme, Frey combines academic rigor with policy relevance, advising institutions like the OECD, UN, and World Economic Forum.

His book, blending historical analysis with contemporary insights, examines how automation disrupts economies—a theme informed by his PhD research at the Max Planck Institute and decades of interdisciplinary work.

A frequent commentator in the Financial Times, Wall Street Journal, and Foreign Affairs, Frey’s research has been cited in over 100 media outlets. The Technology Trap was named a 2019 Financial Times Best Book of the Year and won Princeton University’s Richard A. Lester Prize, cementing its status as a pivotal work on technological disruption.

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