Prof. Jon Gruber speaks with Boston Public Radio hosts Jim Braude and Margery Eagen about the economics behind the Ozempic phenomenon, an antidiabetic drug being used to manage weight loss. “This is very new phenomenon and I think we are just starting to grapple with it,” says Gruber. “I think one positive aspect… it will put pressure on Congress to once again think more seriously about broader price of drug reform.”
MIT has been selected as the world’s best university in the 2024 QS World University Rankings, reports Cecilia Rodriguez for Forbes. MIT has secured “the top position for the 12th consecutive year,” writes Rodriguez.
Professor Roberto Rigobon, Research Scientist Florian Berg and Research Affiliate Julian Kölbel write for the Financial Times about the pressing need for tougher scrutiny, regulation and reform of ESG rating agencies. “The solution is greater transparency about what a rating seeks to measure, and the methodology behind it,” they write. “Users should be able to scrutinize the way the data is collected and aggregated, and whether that is consistent with the rating’s objective.”
A study by MIT researchers shows that “workers have cost employers a 25% tax rate, while the rate of software and equipment has stood around 5%,” write Diego Areas Munhoz and Samantha Handler for Bloomberg. “This lopsidedness in tax code gives employers more reason to invest in automating goods like machines and computer software instead of workers.”
“Power and Progress,” a new book by Institute Prof. Daron Acemoglu and Prof. Simon Johnson, has been named one of the best new books on economics by the Financial Times. “The authors’ nuanced take on technological development provides insights on how we can ensure the coming AI revolution leads to widespread benefits for the many, not just the tech bros,” writes Tej Parikh.
Writing for The New York Times, Institute Prof. Daron Acemoglu and Prof Simon Johnson make the case that “rather than machine intelligence, what we need is ‘machine usefulness,’ which emphasizes the ability of computers to augment human capabilities. This would be a much more fruitful direction for increasing productivity. By empowering workers and reinforcing human decision making in the production process, it also would strengthen social forces that can stand up to big tech companies.”
Prof. Danielle Li and graduate student Lindsey Raymond speak with NPR hosts Wailin Wong and Adrian Ma about how generative artificial intelligence could impact the workplace based on their research examining how an AI chatbot affected workers at customer contact centers. “A lot of what customer service is, is about managing people's feelings 'cause people come, they're tired or whatever,” says Li. “And so in some sense there's kind of this sort of human soft skills component that these technologies are able to capture in a way that prior technologies couldn't.”
Prof. Daron Acemoglu speaks with VOX Talks host Tim Phillips about his new book written with Prof. Simon Johnson, “Power and Progress.” The book explores “how we can redirect the path of innovation,” Phillips explains.
J. Daniel Kim PhD ’20 and Minjae Kim SM ’17 PhD ‘18 have found that young companies “were less likely than similar companies to change their line of business or location” after the departure of a founder, reports Kevin Lewis for The Boston Globe. “Companies that did change their line of business tended to perform better, especially around recessions,” explains Lewis. “This supports the notion that the loss of a founder tends to impede necessary change.”
Prof. Alexey Makarin and his colleagues have found that following the arrival of Facebook, depression, anxiety and diminished academic performance increased across U.S. colleges, reports Jesse Greenspan for Scientific American. “Makarin says much of the harm they documented came from social comparisons,” explains Greenspan.
Bloomberg reporter Adrian Wooldridge spotlights a new book titled “Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity” by Prof. Simon Johnson and Prof. Daron Acemoglu. “The authors’ main worry about AI is not that it will do something unexpected like blowing up the world,” writes Wooldridge. “It is that it will supercharge the current regime of surveillance, labor substitution and emotional manipulation.”
Institute Prof. Daron Acemoglu discusses AI and the labor market, the history of technological progress and Turkey with Financial Times columnist Rana Foroohar. “I think the skills of a carpenter or a gardener or an electrician or a writer, those are just the greatest achievements of humanity, and I think we should try to elevate those skills and elevate those contributions,” says Acemoglu. “Technology could do that, but that means to use technology not to replace these people, not to automate those tasks, but to increase their productivity.”
Prof. Daron Acemoglu speaks with Wired reporters Gideon Lichfield and Lauren Goode about his new book with Prof. Simon Johnson, “Power and Progress.” Acemoglu explains that: “The way I would put it is, don't think of your labor as a cost to be cut. Think of your labor as a human resource to be used better, and AI would be an amazing tool for it. Use AI to allow workers to make better decisions.”
Guardian reporter Will Hutton spotlights “Power and Progress,” a new book by Institute Prof. Daron Acemoglu and Prof. Simon Johnson that makes the case that “the political struggle has consistently aimed to contain excessive inequality of wealth, and act collectively to share prosperity. It is successive waves of transformative technologies above all that bring the productivity gains that create great wealth, only for it to be captured by the incumbent elite.”
Researchers from MIT and elsewhere have found chance encounters among employees of different companies can kickstart innovation, reports Bart Ziegler for The Wall Street Journal. Researchers explained that such chance meetings “may spark a conversation that leads to a transfer of knowledge or a collaboration,” writes Ziegler.