Prof. Daron Acemoglu highlights the importance of adopting alternative technologies in the face of AI advancements, reports Jared Newman for Fast Company. “We need investment for alternative approaches to AI, and alternative technologies, those that I would say are more centered on making workers more productive, and providing better information to workers,” says Acemoglu.
Prof. Daron Acemoglu, one of the recipients of the 2024 Nobel Prize in economics, speaks with NPR Planet Money hosts Jeff Guo and Greg Rosalsky about the academic inspirations that led to his award-winning research studying the role of institutions in shaping economies. “In 1980, as I was in middle school, just the beginning of my seventh grade, Turkey suffered a big military coup,” explains Acemoglu. “There were soldiers everywhere, including in our school. Turkey was definitely not a democratic country at the time, and it was also suffering via a series of economic problems. I got interested in exactly these sets of issues.”
Researchers at MIT and the Center for Strategic and International Studies have used a tabletop exercise to determine whether a further build-up of US nuclear capabilities would impact China’s nuclear weapon use in Taiwan, reports Kathrin Hille for Financial Times. “The US has 600-plus tactical nuclear weapons, and it is modernizing their delivery means,” explains Principal Research Scientist Eric Heginbotham. “In the game, the one US team that employed tactical nuclear weapons used fewer than a dozen. In no cases did any of the participants ever say: ‘We need SLCM-N or some other system that is not in the inventory or being deployed under the current modernization plan.’”
Gloria L. Fox, the longest-serving Black woman representative in the Massachusetts Legislature who completed the MIT Community Fellows program, has died at the age of 82, reports Tiana Woodard for The Boston Globe. Fox is remembered as a “superwoman, a legend, and a lifelong advocate of Boston’s black communities,” writes Woodard. “Fox held the seat, representing parts of Roxbury, Dorchester, Mission Hill, and the Fenway for more than 30 years… she championed legislation that addressed health disparities, foster care, criminal justice, and disinvestment, no matter what opposition she faced.”
Ben Armstrong, executive director of the Industrial Performance Center, speaks with Financial Times reporter Michael Acton about the future of foreign semiconductor company investments in the United States. Armstrong notes that it could take some time to see returns from the CHIPS and Science Act. “You could say the chip boom hasn’t even started yet,” says Armstrong. “The real benefits in growth that could come from it are not likely to pay off until a few years from now.”
Prof. Charles Stewart III speaks with USA Today reporter Chris Brennan about misinformation surrounding the integrity of the election process in the U.S. "What we're seeing now are groups that are arising specifically to keep the controversy going and to make money on it and to try to expand the view," says Stewart.
Prof. Daron Acemoglu, a recipient of the 2024 Nobel Prize in economic sciences, speaks with CNBC about the challenges facing the American economy. Acemoglu notes that in his view the coming economic storm is really “both a challenge and an opportunity,” explains Acemoglu. “I talk about AI, I talk about aging, I talk about the remaking of globalization. All of these things are threats because they are big changes, but they’re also opportunities that we could use in order to make ourselves more productive, workers more productive, workers earn more. In fact, even reduce inequality, but the problem is that we’re not prepared for it.”
Prof. Charles Stewart III speaks with McClatchy reporter Brendan Rascius about mail-in ballots for the 2024 election. “The USPS processes a total of 300 million pieces of mail each day,” says Stewart. “The total number of mail ballots will be something in the neighborhood of 50 million which, of course, will generate a total of 100 million pieces of mail – a volume that will be stretched out over several weeks. Therefore, this is not a major surge in volume.”
Fast Company reporter Kristin Toussaint spotlights a new study by MIT researchers that examines the energy burden in the U.S., the percent of a household’s income spent on energy costs. The researchers found a disproportionate number of people in the South experiencing energy poverty. “As the climate warms, we’re going to need to use more and more energy on air-conditioning, and that’s going to increase the burden on low-income households,” explains Prof. Christopher Knittel.
Writing for Project Syndicate, Research Scientist Christian Catalini contributes to a Project Syndicate opinion piece makes the case for implementing cryptocurrency regulation that favors “builders over speculators.” Catalini and his co-authors write: “At the end of the day, policymakers in Washington must come together and draft new rules, rather than trying to squeeze crypto use cases into laws from nearly a century ago. And the industry, for its part, needs to tackle the many problems that traditional financial services and crypto leaders have long ignored.” They add: “The upside, much like in the early days of the internet, is a technology that can restore competition to sectors that haven’t seen it in decades.”
Prof. Kristin Forbes speaks with Reuters reporters Ann Saphir and Howard Schneider about the Federal Reserve’s decision to lower borrowing costs. “It's not one thing that causes everyone to move,” says Forbes. “It's different people focus on different data, different indicators, different risks, and then they all end up in the same place.”
Prof. Kristin Forbes speaks with Associated Press reporter Christopher Rugaber about the Federal Reserve’s announcement declaring the end of the three-year inflation surge. “It really has been a remarkable success, how inflation went up, has come back, and is around the target,” says Forbes. “But from the viewpoint of households, it has not been so successful. Many have taken a big hit to their wages. Many of them feel like the basket of goods they buy is now much more expensive.”
Prof. Nathaniel Hendren speaks with Wall Street Journal reporter Rachel Wolfe about the evolution of economic mobility in the United States. “It’s still a coin flip whether or not you’ll earn more than your parents, but mobility probably hit a record low in the early 2020s,” says Hendren.
Writing for The Boston Globe, President Emeritus L. Rafael Reif makes the case that “without strong research universities and the scientific and technological advances they discover and invent, the United States could not possibly keep up with China.” He emphasizes that “punishing universities financially for their failings — real and imagined — would be counterproductive. If anything, the China challenge demands that universities do more than they are already doing — and that they have the resources to do so.”
Prof. Kristin Forbes speaks with Bloomberg reporters Jonnelle Marte and Reade Pickert about potential Fed rate cuts. “The last few years have been a wake-up call,” Forbes said. “You want to do a framework review that is robust to many different economic circumstances.”