Prof. Tavneet Suri speaks with NPR hosts Ari Shapiro and Nurith Aizenman about her research with GiveDirectly a U.S. based charity that provides villages in Kenya with universal basic income. Suri’s work studies how the method of income delivery payments – monthly income or single lump sum payments – can impact communities. “We need to see if these effects last,” says Suri. “Does it just disappear, or was this enough to keep them going forever?”
New research by Prof. Tavneet Suri and Prof. Abhijit Banerjee explores how to most effectively direct cash to low-income households, reports Dylan Matthews for Vox. Suri and Banerjee compare “three groups: short-term basic income recipients (who got the $20 payments for two years), long-term basic income recipients (who get the money for the full 12 years), and lump sum recipients, who got $500 all at once, or roughly the same amount as the short-term basic income group,” writes Matthews. “Suri and Banerjee found that the lump sum group earned more, started more businesses, and spent more on education than the monthly group.”
Writing for the Los Angeles Times, Professors Daron Acemoglu and Simon Johnson examine what the recent issues at OpenAI mean for the future of artificial intelligence. “Sam Altman’s dismissal and rapid reinstatement as CEO of OpenAI, the creator of ChatGPT, confirms that the future of AI is firmly in the hands of people focused on speed and profits, at the expense of all else,” they write. “This elite will now impose their vision for technology on the rest of humanity. Most of us will not enjoy the consequences.”
The work of Professors David Autor and Daron Acemoglu is highlighted in an article for The Economist that examines “how jobs are being transformed for the better.” A recent paper co-authored by Autor “demonstrated that tight American labour markets are leading to fast wage growth,” while a study from Acemoglu and others found “that use of robots meant higher wages for workers who were not replaced, and that these benefits spread beyond the automating firms.”
Four faculty members from across MIT - Professors Song Han, Simon Johnson, Yoon Kim and Rosalind Picard - speak with Curiosity Stream about the opportunities and risks posed by the rapid advancements in the field of AI. “We do want to think about which human capabilities we treasure,” says Picard. She adds that during the Covid-19 pandemic, “we saw a lot of loss of people's ability to communicate with one another face-to-face when their world moved online. I think we need to be thoughtful and intentional about what we're building with the technology and whether it's diminishing who we are or enhancing it.”
Prof. Albert Saiz speaks with Washington Post reporter Andrew Van Dam about the influence of geographical regions in politics. “High-amenity areas are more desirable and tend to attract the highly skilled,” says Saiz. “These metros tend to have harder land constraints to start with, which begets more expensive housing prices which, in turn, activate more NIMBY activism to protect that wealth.”
Forbes reporter Nancy Wang spotlights Tara Bishop '97 and Eileen Tanghal '97, co-founders of Black Opal Ventures, a venture capital firm focused on health tech. “Tara and Eileen’s story at Black Opal Ventures is a testament to how diversity and innovation can disrupt traditional landscapes,” writes Wang. “Their pioneering strategies and investments herald a new era for healthcare venture capitalism, where diversity and technology converge to create a more inclusive and impactful future.”
Prof. Emeritus Olivier Blanchard speaks with Robert Armstrong of the Financial Times about inflation, the rise in long yields and the fiscal endgame in the U.S. Blanchard urges regulators to, “have plans for a steady reduction of primary deficits to close to zero. Slow, steady, convincing, credible.”
Prof. Tavneet Suri discusses GiveDirectly, the world’s largest universal basic income (UBI) program, which has been providing almost 5,000 people in Kenya with “a payment of about 75 cents (62p) a day since 2017,” reports Philippa Kelley for The Guardian. “We do see people leaving low wage jobs,” says Suri. “They are going and starting businesses, and the businesses are doing great because there’s money around.”
New York Times reporter Conor Dougherty spotlights DUSP graduate student Nick Allen MS '17 and his work advocating for Land-value taxes (LVT) in distressed US cities.
Prof. Pierre Azoulay speaks with Wall Street Journal reporter Bob Fernandez about new research that highlights how immigrant workers, “account for nearly one-in-five of the top 1% wage earners in the U.S.” Azoulay notes that: “One reason that immigrants do better is that they locate in places that are growing fast and the earnings potential are high. They do not randomly locate around the United States.”
Prof. Daron Acemoglu and Prof. Simon Johnson write for Project Syndicate about how to structure U.S. international trade policies so that they benefit American workers and global stability. “Two new principles can form the basis of U.S. policy. First, international trade should be structured in a way to encourage a stable world order,” they write. “Second, appealing to abstract 'gains of trade' is no longer enough. American workers need to see the benefits. Any trade arrangement that significantly undermines the quality and quantity of middle-class American jobs is bad for the country and its people, and will likely incite a political backlash.”
Researchers at MIT and elsewhere have published a study examining how extended “silence and a deliberative mindset create value in negotiation,” reports MSNBC reporter Selena Rezvani. “Our research suggests that pausing silently can be a simple yet very effective tool to help negotiators shift from fixed-pie thinking to a more reflective state of mind," says Prof. Jared Curhan. "This, in turn, leads to the recognition of golden opportunities to expand the proverbial pie and create value for both sides.”
Forbes reporter Howard Gleckman spotlights Prof. Amy Finkelstein’s new book, “We’ve Got You Covered: Rebooting American Health Care.” Finkelstein and her co-author propose a, “highly provocative, radical alternative to our current mess,” by combining, “a global health budget with universal, free, basic care for everybody,” Gleckma explains.
Prof. Iván Werning speaks with New York Times reporter Peter Coy about whether transitioning from pesos to the U.S. dollar could help control inflation in Argentina. Coy writes that Werning prefers “more conventional solutions such as bringing government budgets closer into balance.”