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The Economist highlights several studies by MIT researchers on income inequality and wages in the U.S., noting that “Clem Aeppli of Harvard and Nathan Wilmers of MIT found that earnings inequality basically reached a plateau after 2012.” Additionally, Prof. David Autor and his colleagues have found that wages for the bottom half of workers have been growing roughly two percentage points faster than for the upper half of workers.
Collage New Music, Boston’s longest-running contemporary music group, will be performing at MIT’s Killian Hall on March 12, 2023, reports Lloyd Schwartz for WBUR. Schwartz also notes that Professor Emerita Ellen Harris will be introducing the Boston Camerata production of “Dido and Aeneas” on March 18 at Pickman Hall.
Prof. Daron Acemoglu and his colleagues have found that “managers educated at business schools were more likely to favor shareholders over employees,” writes University of London Prof. André Spicer for the Financial Times. The researchers found that “employees working for companies run by a business school-educated manager earned, on average, 6 percent less in the US and 3 percent less in Denmark,” writes Spicer.
Prof. Alan Lightman hosts a new, three-part series titled “Searching, Our Quest for Meaning in the Age of Science,” reports Jane Levere for Forbes. Lightman “explores timeless and deep questions about man and the universe with ethicists, philosophers, faith leaders and Nobel Prize-winning scientists,” writes Levere.
New research by Prof. David Autor finds that in the U.S. the fast wage growth underway likely reflects a more competitive labor market for workers, writes Martin Sandbu for the Financial Times. “If more workers than before are shifting from worse-paid to better-paid jobs, then wage acceleration is a welcome indicator of an equally welcome reallocation of labor towards more productive activities,” Sandbu writes.
A study by Prof. Amy Finkelstein finds that physicians and their families are less likely to comply with medication guidelines, reports Dennis Thompson for HealthDay. The researchers found that “people tend to adhere to medication guidelines about 54% of the time, while doctors and their families lag about 4 percentage points behind that.”
Financial Times reporter Jonathan Derbyshire spotlights “Life is Hard: How Philosophy Can Help Us Find Our Way” by Prof. Kieran Setiya. “But that doesn’t mean either that ‘Life Is Hard’ is a self-help book, and it’s all the better and more interesting for it,” writes Derbyshire. “Setiya warns readers at the outset that they are not going to find in it ‘five tips for overcoming grief’ or ‘how to succeed without even trying.’”
Prof. Daron Acemoglu speaks with Politico reporter Derek Robertson about his new study examining the impacts of automation on the workforce and economy. “This discussion gets framed around ‘Will robots and AI destroy jobs, and lead to a jobless future,’ and I think that's the wrong framing,” says Acemoglu. “Industrial robots may have reduced U.S. employment by half a percent, which is not trivial, but nothing on that scale [of a “jobless future”] has happened — but if you look at the inequality implications, it's been massive.”
Prof. Kieran Setiya’s book “Life is Hard: How Philosophy Can Help Us Find Our Way,” has been named one of The Economist’s best books of 2022. In the book, Setiya makes the case that “suffering need not dimmish or spoil a good life,” writes The Economist.
The Atlantic highlights a section of Prof. Alan Lightman’s forthcoming book, “The Transcendent Brain: Spirituality in the Age of Science.” Lightman writes, “I call myself a spiritual materialist. As a scientist, I’m a materialist. Not in the sense of seeking happiness in cars and nice clothes, but in the literal sense of the word: the belief that everything is made out of atoms and molecules, and nothing more. Further, I believe that the material stuff of the universe is governed by a small number of fundamental laws. Yet I have had transcendent experiences.”
A new study by Prof. Daron Acemoglu, former postdoctoral fellow Nicolaj Mühlbach and London School of Economics Prof. Andrew Scott finds that while American jobs have become age-friendlier, “older workers haven’t been the biggest beneficiaries of this age-friendly job bonanza,” reports Andrew Van Dam for The Washington Post. The researchers found, “workers age 62 and older were significantly more willing to accept a smaller paycheck if a job involved moderate physical activity, more time sitting and the autonomy to choose how to do their job,” writes Van Dam.
TechCrunch reporter Brian Heater spotlights a new study by Prof. Daron Acemoglu that examines the impact of automation on the workforce. “We’re starting with a very clear premise here: in 21st-century America, the wealth gap is big and only getting bigger,” writes Heater. “The paper, ‘Tasks, Automation, and the Rise in U.S. Wage Inequality,’ attempts to explore the correlation between the growing income gap and automation.”
“Risky Business: Why Insurance Markets Fail and What to Do About It” by Prof. Amy Finkelstein, Boston University Prof. Ray Fisman, and Stanford University Prof. Liran Einav was named one of the best economics books of 2022 reports Martin Wolf for Financial Times.
Popular Science reporter Andrew Paul writes that a study co-authored by Institute Prof. Daron Acemoglu examines the impact of automation on the workforce over the past four decades and finds that “‘so-so automation’ exacerbates wage gaps between white and blue collar workers more than almost any other factor.”
Prof. Jonathan Gruber speaks with GBH hosts Jim Braude and Margery Eagan about why Democrats are pushing to raise the debt ceiling. “This is really about paying off the money that Congress approved to spend for all of the things the government does,” says Gruber.