A new study by Prof. Jessika Trancik and postdoctoral associate Micah Ziegler examining the plunge in lithium-ion battery costs finds that “every time output doubles, as it did five times between 2006 and 2016, battery prices fall by about a quarter,” reports The Economist. “A doubling in technological know-how, measured by patent filings, is associated with a 40% drop in price.”
In an article for Politico, Professor of the practice Zeynep Ton explores how pay disclosures could help shed led on whether workers are earning enough money to support their families. “Building an economy founded on good jobs will require deep, structural transformation, but you can only manage change if you measure," writes Ton and her co-author Katie Bach. “The best way to spur movement towards creating good jobs may be to start requiring that companies publish take-home pay data.”
Prof. Jessika Trancik speaks with the BBC Newshour about her new study analyzing the dramatic decline in the costs of lithium-ion batteries. Trancik explains that the reduced price, “opens up markets for electric vehicles for more people. The battery makes up a substantial portion of the total cost of an electric vehicle and the fact that costs have fallen by 97% over the last few decades means that these cars are no longer just for the wealthy.”
Writing for The New York Times, Prof. Amy Finkelstein emphasizes the effectiveness of randomized clinical trials. Finkelstein notes that she hopes “truly rigorous testing of social policy will become as commonplace as it is for new vaccines. That would help ensure that government services are delivered as effectively and efficiently as possible.”
Writing for Forbes, Elisabeth Reynolds, executive director of the MIT Task Force on the Work of the Future, underscores the need to improve job quality, increase access to education and training, and invest in technologies that augment workers. “The public and private sectors must also be innovative in the ways in which they can collaborate in creating a work of the future that leads to greater shared prosperity,” writes Reynolds.
Bloomberg reporter Craig Torres spotlights alumna Stacey Tevlin PhD ’95 who leads the Federal Reserve’s Research and Statistics division and is “the most important person in U.S. economics that you have probably never heard of.” Tevlin’s team is entrusted with “the forecasts for policy makers as they weigh interest rates every six weeks,” writes Torres.
Graduate student Caroline White-Nockleby discusses her new white paper that explores the regional impact of the decline in coal production. “Employment in the [coal] industry has decreased from around 3,800 jobs to around 2,800 direct jobs in the past five years,” says White-Nockleby .”They also have a big role in the tax base. Coal companies pay taxes on the value of the coal itself that’s underground, and they also pay property taxes.”
Profs. Daron Acemoglu and David Autor speak with New York Times columnist Kevin Roose about the impact of automation on the labor market. “A lot of professional work combines some element of routine information processing with an element of judgment and discretion,” says Autor. “That’s where software has always fallen short. But with A.I., that type of work is much more in the kill path.”
Reuters reporter Trevor Hunnicutt spotlights how Elisabeth Reynolds, executive director of the MIT Task Force on the Work of the Future, has been tapped by the Biden administration to serve on the National Economic Council.
Writing for GBH, lecturer Malia Lazu explores how to build racial equity into the innovation economy. “Without centering the value of Black contributions to our economy,” writes Lazu, “economic equity in our country will be nothing more than a good intention.”
In an article for The Boston Globe, President Emerita Susan Hockfield and Prof. Ernest Moniz, former secretary of energy, highlight alumnus George Shultz’s PhD ’49 visionary approach to tackling climate change and the development of new technologies. "George was masterful in bringing together people and ideas from disparate disciplines to find new kinds of solutions to daunting political, technological, and organizational problems," they write. "He created communities of shared concern, which he recognized was the way to get things done and to have lots of fun doing so, frequently reminding us, 'If you want to land together, you better take off together.'"
Prof. Amy Glasmeier speaks with Greg Iacuurci of CNBC about the calculator she and her colleagues developed that displays what an actual living wage is in different areas of the country. “People are not surviving on the minimum wage,” says Glasmeier,
Mario Draghj PhD ’76 has been named the new Italian prime minister, reports Giovanni Legorano and Marcus Walker for The Wall Street Journal. “His obsession with the importance of education is rooted in his personal experience. His studies paid off for the next 40 years,” said Mario Baldassarri PhD ‘77, a fellow MIT alumnus.
AP reporter Matthew Lee memorializes the life and work of George Shultz PhD ’49, “a titan of American academia, business and diplomacy who spent most of the 1980s trying to improve Cold War relations with the Soviet Union and forging a course for peace in the Middle East.”
George Shultz, an MIT alumnus and former professor of economics who served as a counsel and Cabinet member for two presidents, has died at age 100, reports Michael Abramowitz and David E. Hoffman for The Washington Post. “Mr. Shultz was a policy maven, conservative but curious, patient and determined. He ranged widely over domestic and foreign affairs,” they write.