Politics

Nithya Raman MCP '08 has announced her decision to run for Los Angeles Mayor, reports Jill Cowan and Shawn Hubler for The New York Times. Raman “represents a district that encompasses a diverse array of neighborhoods, including some where immigrants live in dense apartments and some in the fast-growing San Fernando Valley, where wealthy Hollywood executives live in hillside bungalows,” they write. “That diversity, Ms. Raman has said, has given her unique insight into the needs of vastly different communities in the city of nearly four million.” 

Prof. Daron Acemoglu speaks with Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec about American politics. “In my mind, worryingly, there is a little bit of a theory which is that all of these actions are aimed at centralizing power in the hands of an executive presidency with fewer and weaker checks which come either from institutions or norms.” 

Writing for the Financial Times, Institute Prof. Daron Acemoglu explores the rise of New York City mayor-elect Zohran Mamdani and the future of U.S. democracy and liberalism. “I argue that nothing short of forging a new working-class liberalism can succeed,” writes Acemoglu. “This has to center on shared prosperity, a reintegration of the lower-education workers into politics, a commitment to local governance by all communities (within the bounds of protecting basic liberties) and true diversity of opinion (even on controversial matters).”

Prof. Jonathan Gruber speaks with Newsweek reporter Jasmine Laws about the impact of rising health insurance costs in California. "This is disastrous for both economic security and health,” says Gruber. “Studies have shown that losing insurance is associated with enormous economic risk and worse health, including death."

Prof. Daron Acemoglu speaks with WBUR’s Here & Now co-host Scott Tong about the role of institutions in the overall prosperity of nations and some of the current challenges facing the US. “It’s a very important part of rebuilding democracy that we have to make experts trusted again. And that has to start with us,” says Acemoglu. “We have to be much more down to Earth. We have to be honest about when we are certain of something and when we are uncertain. And, I think we have to make certain that it’s not our political views that drive our advice or our analysis.” 

In an opinion piece for Bloomberg, Gautam Mukunda PhD '10 highlights the importance of federally funded scientific research. “Today, the federal government’s best investment is scientific research,” writes Mukunda. “The Federal Reserve estimates that support for science has a 150% to 300% return. Few investors have a track record as good.” 

A new book edited by Prof. Gary Gensler and Prof. Simon Johnson examines the current administration’s impact on the global economy and how new policies could lead to “a profound weakening of both US economic dynamism and the global system it once led,” reports Sam Sutton for Politico.

Prof. Daron Acemoglu, Prof. Peter Diamond and Prof. Simon Johnson are among the six Nobel laureate economists that warn the “massive budget bill passed by Housemakers last month… would weaken key safety-net programs while greatly lifting the federal debt,” reports Alain Sherter for CBS News. The economists also said that “large tax cuts under the legislation, combined with the hits to Medicaid and food stamps, would increase inequality,” writes Sherter. 

Prof. Daron Acemoglu speaks with WBUR On Point host Meghna Chakrabarti about the role of trust in institutions. “Institutions crucially depend on the trust that people place in them,” says Acemoglu. “Corruption is the tip of the spear, because once you start suspecting that people in high office are using their position for corrupt ends, it tarnishes the entire set of institutions. And I think that's the situation we're in, and we're getting deeper and deeper.” 

Prof. David Autor speaks with Rogé Karma from The Atlantic about the role of tariffs in the American manufacturing industry. “Letting free trade rip is an easy policy,” says Autor. “Putting up giant tariffs is an easy policy. Figuring out some middle path is hard. Deciding what sectors to invest in and protect is hard. Doing the work to build new industries is hard. But this is how great nations lead.” 

Writing for The New York Times, MIT Innovation Fellow Brian Deese explains the impact of tariffs and domestic policy on the American auto industry. Deese notes that current policies “risk leaving U.S. automakers isolated and incapable of competing on their own merits as foreign companies bolt ahead. The damage to our economy and national security could be profound.” 

Prof. Simon Johnson joins CNBC’s Squawk Box to discuss the potential impact of U.S. tariffs on the global economy. 

Writing for Science, Prof. Fiona Murray and Research Affiliate Stefan Raff-Heinen underscore the necessity of federal investment in university research, noting that “without sustained federal support, the country risks losing its technological edge, threatening economic competitiveness and national security.” Murray and Raff-Heinen write: “Translational research funding is crucial for moving discoveries and early-stage technologies from labs to real-world applications. Government support gives scientists the time to refine nascent technologies, which can be a long and uncertain process. But this approach has had substantial payoffs.” 

Writing for The Wall Street Journal, Sloan Senior Lecturer Robert Pozen highlights the impact of U.S. tariffs on foreign investment in U.S. Treasury securities and U.S. corporate bonds. “Nevertheless, since target countries will want to respond to reciprocal tariffs, they may stop buying or even sell U.S. debt securities,” explains Pozen. “Either response would increase U.S. interest rates and decrease economic growth. International trade flows and international investing are two sides of the same street.” 

Writing for The New York Times, Prof. Catherine Wolfram and Columbia Prof. Glenn Hubbard make the case that to help end the war between Russia and Ukraine, the U.S. should “impose sanctions on any company or individual – in any country – involved in a Russian oil and gas sale.” They write: “Ideally, the policy would pressure Russia into negotiations, where its removal could be part of a deal. If not, the United States would still collect billions annually, which could help fund Mr. Trump’s proposed tax cuts.”