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Ben S. Bernanke PhD ’79 has been honored as one of the recipients of this year’s Sveriges Riksbank Prize in Economic Sciences, reports the Associated Press. Bernanke was recognized for his work examining the Great Depression and “showing the danger of bank runs — when panicked people withdraw their savings — and how bank collapses led to widespread economic devastation,” notes the AP.
Ben Bernanke PhD ’79, former chair of the Federal Reserve, has been awarded the 2022 Nobel Prize in economic sciences, reports Allison Morrow for CNN. Bernanke “received the award for his research on the Great Depression,” says Morrow. “In short, his work demonstrates that banks’ failures are often a cause, not merely a consequence, of financial crises.”
Ben Bernanke PhD ’79 has won a share of the 2022 Sveriges Riksbank Prize in Economic Sciences for his research on banks and financial crises, reports Micahel T. Nietzel for Forbes. Bernanke and his fellow winners are credited with significantly improving “our understanding of the role of banks in the economy, particularly during financial crises,” says The Royal Swedish Academy of Sciences.
NPR’s Miles Parks spotlights Prof. Charles Stewart III’s research showing that hand counting ballots is “significantly less accurate, more expensive and more time-consuming than using tabulation equipment.” Stewart noted "Computers — which ballot scanners rely on — are very good at tedious, repetitive tasks. Humans are bad at them. Counting votes is tedious and repetitive.”
Prof. David Kaiser discussed the significance of Alain Aspect, John F. Clauser and Anton Zeilinger’s research conducting experiments concerning quantum entanglement, for which they were honored with the 2022 Nobel Prize in Physics. “Clauser got a lot of pushback from scientists who didn’t think this was even part of science,” said Kaiser. “He had to have a lot of stick-to-itiveness to publish his result.”
In a review for The New York Times, University of Bonn Prof. Irina Dumitrescu spotlights Prof. Kieran Setiya’s new book “Life is Hard: How Philosophy Can Help Us Find Our Way” Dumitrescu writes: “Setiya’s main goal is not to describe how things should be; in his view, given that there is much in life that makes us miserable, and that we can neither change nor ignore, we might as well find ways of dealing with the reality.”
Los Angeles Times book critic Bethanne Patrick spotlights Prof. Kieran Setiya’s new book“Life Is Hard: How Philosophy Can Help Us Find Our Way.” Patrick writes that Setiya’s book demonstrates how “philosophy contains equipment that can help you survive and find renewed hope, if you know how to use it.”
The new MIT Museum opens to the public this weekend in its new location in Kendall Square, which is “quite significant because this is the heart of innovation,” notes GBH’s Jared Bowen. Museum visitors will not only get a sense of MIT’s long history of innovation, but also get a sense of the scientific process, with exhibits featuring “part of the machinery that was used to help sequence the human genome, [and] the star shade petal that allowed NASA to photograph exoplanets,” Bowen explains.
Prof. Esther Duflo speaks with New York Times reporter Peter Wilson about how climate change can impact global inequality. “The responsibility for the emissions that lead to climate change rests mainly with rich countries and their consumers, but the cost is mainly going to be borne by citizens in poor countries,” says Duflo.
“Cosmic Cowboy,” a new sci-fi opera composed by lecturer Elena Ruehr, explores “the mysteries of space, time and love,” reports Llyod Schwartz for WBUR. Additionally, Schwartz spotlights how Collage New Music, a contemporary music series directed by David Hoose, will be held on October 16, 2022 at Killian Hall.
Graduate student Evan Soltas and Gopi Shah Goda, deputy director of Stanford’s Institute for Economic Policy Research, explore the impact that Covid-19 has had on the workforce, reports Sarah Todd for Quartz. “People ages 65 and up are more likely to leave the workforce after contracting Covid compared to younger people,” say Soltas and Goda.
A study by graduate student Evan Soltas and Gopi Shah Goda, deputy director of Stanford’s Institute for Economic Policy Research, underlines the pandemic’s impact on labor supply in the United States, reports Richard Luscombe for The Guardian. “Our estimates suggest Covid-19 illnesses have reduced the US labor force by approximately 500,000 people,” say Soltas and Goda.
A study by graduate student Evan Soltas and Gopi Shah Goda, deputy director of Stanford’s Institute for Economic Policy Research, explores the economic toll of Covid-19, including acute illness and long Covid, reports Erin Prater for Fortune. The paper “also looks at the impact of other Covid-related medical consequences like organ damage, mental health issues, new kidney and heart problems, and the worsening of preexisting illness, in addition to the phenomenon of Covid forcing older workers into early retirement,” explains Prater.
Writing for The Hill, Prof. Jonathan Gruber, Representative Ro Khanna (D-California) and Matt Hourihan of the Federation of American Scientists write that there’s “an unfortunate history of Congress authorizing ambitious boosts for science only to fall short in appropriations. Congress deserves credit for getting the CHIPS and Science Act across the finish line, but legislators shouldn’t rest on their haunches. Instead, our leaders should sustain the moment they’ve started and ensure robust support for federal innovation — our future depends on it.”
A study co-authored by graduate student Evan J. Soltas finds that illness caused by Covid-19 shrank the U.S. labor force by around 500,000 people, reports Gwynn Guilford for The Wall Street Journal. “If we stay where we are with Covid infection rates going forward, we expect that 500,000-person loss to persist until either exposure goes down or severity goes down,” said Soltas.