Faculty

Prof. Daron Acemoglu, a recipient of the 2024 Nobel Prize in economic sciences, speaks with CNBC about the challenges facing the American economy. Acemoglu notes that in his view the coming economic storm is really “both a challenge and an opportunity,” explains Acemoglu. “I talk about AI, I talk about aging, I talk about the remaking of globalization. All of these things are threats because they are big changes, but they’re also opportunities that we could use in order to make ourselves more productive, workers more productive, workers earn more. In fact, even reduce inequality, but the problem is that we’re not prepared for it.” 

Writing for Forbes, Senior Lecturer Guadalupe Hayes-Mota SB '08, MS '16, MBA '16, shares five lessons for aspiring entrepreneurs. “Starting a business is not just about having a brilliant idea; it's about finding purpose, solving real problems and building the right team,” explains Hayes-Mota. 

Prof. Simon Johnson, who shared the 2024 Nobel Prize in economic sciences with Prof. Daron Acemoglu, speaks with CNBC “Squawk Box” about his reaction to hearing the news that he was a Nobel laureate and his research on the role of strong institutions in shaping economies. “I think going forward we need to strengthen the resilience of our democracy in the United States,” says Johnson. He adds that having a “resilient democracy, a legitimate democracy, a democracy that everyone believes in and adheres to the results of elections, is absolutely fundamental to everything that we’ve been able to build.” 

Prof. Evelina Fedorenko speaks with Scientific American reporter Gary Stix about her research demonstrating that “language and thought are, in fact, distinct entities that the brain processes separately.” Speaking about how large language models could be used to help scientists better understand the neuroscience of how language works, Fedorenko explains that "there are many, many questions that we can now ask that had been totally out of reach: for example, questions about [language] development.”

Writing for The New York Times, Institute Prof. Daron Acemoglu explores the “three epochal changes poised to reshape the U.S. economy in coming years: an aging population, the rise of artificial intelligence and the rewiring of the global economy.” Acemoglu makes the case that “if handled correctly, these challenges could remake work and deliver much higher productivity, wages and opportunities — something the computer revolution promised and never fulfilled.” He adds: “If we mismanage the moment, they could make good, well-paying jobs scarcer and the economy less dynamic. Our decisions over the next five to 10 years will determine which path we take.”

In a letter to the Financial Times, Prof. Daron Acemoglu and his colleagues highlight the importance of providing access to affordable financing for the world’s poorest countries. “IDA, the World Bank’s concessional financing facility for these countries, has a proven track record for providing this support and its upcoming replenishment is a moment for the international community to match their stated concern with a stepped-up financial contribution,” they write. “We urge finance ministers of the G20 countries to lead this effort and increase contributions to the 21st replenishment of the International Development Association (IDA21).”

Prof. Simon Johnson, a recipient of the 2024 Nobel Prize in economic sciences, joins Planet Money’s The Indicator podcast to discuss his research that demonstrates the importance of strong institutions for a country’s economic growth and prosperity. “Rejecting the result of a free and fair election, encouraging people to attack Congress when it's the process of formally validating that vote - that's not acceptable,” says Johnson. “Those moves - that kinds of actions can absolutely undermine, destroy any democracy. We've seen that many times around the world. It takes a long time to build strong institutions. It doesn't take long to overthrow them if you really put your mind to it.”

Prof. Simon Johnson, a recipient of the 2024 Nobel Prize in economic sciences, speaks with Marketplace host David Brancaccio about his research exploring how institutions shape economies and AI’s potential influence on the workforce. “I think there’s a lot we can do on redirecting technological progress and pushing AI and the innovators around that space towards inventing things that are more useful to people and boost the productivity of particularly people with less education.”

Prof. Simon Johnson, who along with Prof. Daron Acemoglu has received the 2024 Nobel Prize in economic sciences, speaks with Lynn Jolicoeur, host of WBUR’s All Things Considered, about his Nobel Prize winning research and how new technologies could play into the future of democracy. “My bumper sticker for this whole moment is, ‘more good jobs,’” says Johnson. He notes that along with his colleagues Profs. Daron Acemoglu and David Autor, he is “pushing for ways that we can tap into new technology, the latest technology, including artificial intelligence, to push the development and deployment of technology towards more good jobs. If you can do that, I think you can right the ship of democracy and more people will feel confident in their future.”

Writing for Fast Company, Senior Lecturer Guadalupe Hayes-Mota SB '08, MS '16, MBA '16, explores new approaches to improve the drug development process and more effectively connect scientific discoveries and treatment. “Transforming scientific discoveries into better treatments is a complex challenge, but it is also an opportunity to rethink our approach to healthcare innovation,” writes Hayes-Mota. “Through cross-disciplinary collaboration, leveraging AI, focusing on patient-centered innovation, and rethinking R&D, we can create a future where scientific breakthroughs translate into meaningful, accessible treatments for all.”

Prof. David Kaiser and San Francisco Ballet principal dancer Sasha De Sola participate in a dialogue hosted by the Scientific Inquirer that bridges the “boundaries between movement, spacetime, and human expression.” In a wide-ranging discussion, Kaiser and De Sola explore "the intersection of ballet, physics, and human creativity, exploring time’s influence on innovation."

Prof. Simon Johnson, a recipient of the 2024 Nobel Prize in economic sciences, speaks with Bloomberg about his research on the impacts of technology on inequality and the future of democracy. “We have not generated enough new good jobs, jobs where you actually get paid good money and you can live well, and we have got to do better on that,” says Johnson. “Automation is going to happen, like it or not, so you have really got to work harder to generate more science, more technology, deploy that, commercialize that, scale it up and generate more good jobs across the country.” 

Prof. Daron Acemoglu and Prof. Simon Johnson are two recipients of the 2024 Nobel Prize in economic sciences for their work “highlighting that institutions set up during colonization have had an enduring impact on economic outcomes in the countries affected, “reports Delphine Strauss for the Financial Times. “Their research also indicates that more economically inclusive and politically democratic systems prove more conducive to technological innovation and long-run growth.” 

The Nobel Prize in economics has been awarded to Profs. Daron Acemoglu and Simon Johnson for their work studying the impact of societal institutions on country prosperity,” reports Neil Irwin for Axios. The awarded research uncovers why “some nations prosper while other are mired in poverty,” explains Irwin. “[It helps] explain why, showing that colonial societies built on extraction of wealth became poorer in the long run.”

The Associated Press highlights commentary from Prof. Daron Acemoglu and Prof. Simon Johnson following the announcement that the economists had been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their research into “why societies with poor rule of law and exploitative institutions do not generate sustainable growth.”. Acemoglu emphasized: Democracy directly “contributes to economic growth, not easily, not right away, it takes a couple of years and it's a difficult business to make democracy work. But generally, countries that democratize grow faster and they grow the right way, meaning they grow in a way that is more equal, and invest more in education and health, so both political and economic inclusion matter, and they are synergistic.”