Writing for The Los Angeles Times, Prof. Simon Johnson and Oleg Ustenko, economic advisor to President Volodymyr Zelensky of Ukraine, emphasize that “the governments of poorer countries need to demand that Ukrainian grain be allowed to flow freely. The Black Sea corridor must be reopened and kept open as a top priority for all parties working to defeat Putin.”
Prof. Amy Finkelstein speaks with Marketplace’s David Brancaccio about her new book “We’ve Got You Covered: Rebooting American Health Care,” which outlines a way to rethink health care in the U.S. “What every other high-income country does is have universal basic coverage with the ability to buy additional supplemental coverage for people who can afford and want more than that basic coverage,” explains Finkelstein. “And that’s what we need to do.”
Forbes reporter Marco Annunziata spotlights Prof. Amy Finkelstein’s new book, “We’ve Got You Covered.” Annunziata writes that “the book underscores the stunning absence of a health care budget," adding that the authors "do a great job at highlighting how the current setup poses no limit to expenditures and encourages doctors and providers to run up larger bills.”
Writing for The New York Times, MIT Prof. Amy Finkelstein and Stanford Prof. Liran Einav note that health insurance coverage for the Americans "who are fortunate enough to have insurance is deeply flawed.” Finkelstein and Einav make the case that the solution to health insurance reform is “universal coverage that is automatic, free and basic.”
Researchers from MIT have found that using generative AI chatbots can improve the speed and quality of simple writing tasks, but often lack factual accuracy, reports Richard Nieva for Forbes. “When we first started playing with ChatGPT, it was clear that it was a new breakthrough unlike anything we've seen before,” says graduate student Shakked Noy. “And it was pretty clear that it was going to have some kind of labor market impact.”
Prof. Daron Acemoglu and graduate student Todd Lensman have created “the first economic model of how to regulate transformative technologies,” like artificial intelligence, reports Tim Fernholz for Quartz. “Their tentative conclusion is that slower deployments is likely better, and that a machine learning tax combined with sector-specific restrictions on the use of the technology could provide the best possible outcomes,” writes Fernholz.
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.”