In a wide-ranging interview recorded for Bloomberg’s “Masters in Business” podcast, Prof. Daron Acemoglu speaks with Bloomberg View columnist Barry Ritholtz about a wide range of topics including his doctoral thesis, economic institutions and income inequality.
In an article for The New York Times, Prof. Jonathan Gruber writes that proposed cuts to Medicaid will impact a large number of Americans, as the program provides financial resources for elderly and disabled adults. “Nearly two-thirds of [Medicaid] spending is focused on older and disabled adults — primarily through spending on long-term care services such as nursing homes.”
MIT was named the top university in the world for the sixth consecutive year in the QS World University Rankings, reports Kyle Scott Clauss for Boston Magazine.
In this Bloomberg video, MIT professor Jonathan Gruber discusses the discrimination in health insurance that increases costs for sick consumers. “For the very healthiest people premiums have gone up a lot, and that’s because they were essentially benefiting from discrimination and they no longer get to,” explains Prof. Gruber.
A new analysis by MIT researchers shows that immigrants are a vital part of the Boston area’s economy, writes Katie Johnston for The Boston Globe. “It’s very hard to imagine our economy succeeding without immigration,” says Prof. Paul Osterman. “The economy would be strengthened if immigration increased from its present level.”
A study by Prof. Tanveet Suri shows that a mobile-money service called M-Pesa had a long-term impact on poverty in Kenya, writes Tina Rosenberg for The New York Times. The researchers found that M-Pesa “helped women graduate from subsistence agriculture to small business, perhaps because having an M-Pesa account gives a woman her own money…and a greater sense of agency.”
Prof. Abhijit Banerjee and Prof. Vipin Narang were highlighted as part of Open Magazine’s list featuring some of the leading thinkers on India. Banerjee was spotlighted for his research on alleviating poverty in India, and Narang for his work examining India’s nuclear doctrine.
The New York Times' David Leonhardt writes about a study by Prof. Amy Finkelstein showing that as health care premiums rise, low-income families increasingly forgo insurance and use emergency care. Leonhardt explains that emergency care, “tends to be expensive, raising costs for other patients, and it’s often not as good as preventive care.”
In an article for The Atlantic, Gillian B. White writes about Prof. Peter Temin’s new book, “The Vanishing Middle Class: Prejudice and Power in a Dual Economy.” White writes that in his book Temin argues that “following decades of growing inequality, America is now left with what is more or less a two-class system.”
Prof. Andrew Lo speaks with Barry Ritholtz of Bloomberg View about the field of economics. Lo explains that his new book chronicles his “intellectual journey from a diehard devotee of efficient markets and rational expectations into the realm of first psychology and behavioral finance, and then to neuroscience and how people really make decisions.”
In this CBS News Sunday Morning segment, Prof. David Autor speaks with David Pogue about the impact of automation on employment. Autor notes that while in the “last 200 years, we’ve had an incredible amount of automation…this has not in net reduced the amount of employment.”
A new paper co-authored by Prof. Daron Acemoglu examines the impact of automation on the U.S. job market, according to The Economist. The researchers found that “between 1990 and 2007, each industrial robot added per thousand workers reduced employment in America by nearly six workers.”
A study co-written by Prof. Daron Acemoglu examines the impact of autonomous robots on local labor markets, writes Gillian White for The Atlantic. “While the findings might seem grim for workers, the authors note that just because an industry can automate doesn’t mean that it will,” concludes White.
Claire Cain Miller writes for The New York Times about a study by Prof. Daron Acemoglu that shows how robots are impacting the American job market. “The conclusion is that even if overall employment and wages recover, there will be losers in the process, and it’s going to take a very long time for these communities to recover,” says Acemoglu.
A study co-authored by Prof. Daron Acemoglu finds that every new robot added to American factories reduced employment in the surrounding areas, reports Cora Lewis for CNBC. According to the study, the areas experiencing major decline were “routine manual occupations, blue-collar workers, operators and assembly workers, and machinists and transport workers.”