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The Boston Globe Editorial Board spotlights The Educational Justice Institute at MIT (TEJI), which offers educational opportunities to incarcerated individuals. “The two worlds of corrections and education really don’t understand each other well,” says Lee Perlman, co-director of TEJI and a lecturer at MIT. “There’s a real culture clash between them.”
A study by MIT researchers shows that “workers have cost employers a 25% tax rate, while the rate of software and equipment has stood around 5%,” write Diego Areas Munhoz and Samantha Handler for Bloomberg. “This lopsidedness in tax code gives employers more reason to invest in automating goods like machines and computer software instead of workers.”
“Power and Progress,” a new book by Institute Prof. Daron Acemoglu and Prof. Simon Johnson, has been named one of the best new books on economics by the Financial Times. “The authors’ nuanced take on technological development provides insights on how we can ensure the coming AI revolution leads to widespread benefits for the many, not just the tech bros,” writes Tej Parikh.
Writing for The New York Times, Institute Prof. Daron Acemoglu and Prof Simon Johnson make the case that “rather than machine intelligence, what we need is ‘machine usefulness,’ which emphasizes the ability of computers to augment human capabilities. This would be a much more fruitful direction for increasing productivity. By empowering workers and reinforcing human decision making in the production process, it also would strengthen social forces that can stand up to big tech companies.”
Researchers at MIT and elsewhere have published a study on why voters who value democracy participate in democratic backsliding, reports Jason Willick for The Washington Post. The authors have identified “a strong linear relationship between perceptions of the other side’s willingness to subvert democracy and partisans’ own willingness to do so,” writes Willick.
Prof. Daron Acemoglu speaks with VOX Talks host Tim Phillips about his new book written with Prof. Simon Johnson, “Power and Progress.” The book explores “how we can redirect the path of innovation,” Phillips explains.
Bloomberg reporter Adrian Wooldridge spotlights a new book titled “Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity” by Prof. Simon Johnson and Prof. Daron Acemoglu. “The authors’ main worry about AI is not that it will do something unexpected like blowing up the world,” writes Wooldridge. “It is that it will supercharge the current regime of surveillance, labor substitution and emotional manipulation.”
President Sally Kornbluth spoke with reporters from The Tech about her first months as president of MIT and her vision for her time leading the Institute. “MIT is a pretty decentralized place, so I am taking some time to get to know every nook and cranny,” says Kornbluth. She adds that in terms of her top priorities as president, “there's no question that climate change is at the very top of the list.”
Guardian reporter Will Hutton spotlights “Power and Progress,” a new book by Institute Prof. Daron Acemoglu and Prof. Simon Johnson that makes the case that “the political struggle has consistently aimed to contain excessive inequality of wealth, and act collectively to share prosperity. It is successive waves of transformative technologies above all that bring the productivity gains that create great wealth, only for it to be captured by the incumbent elite.”
Researchers from MIT and elsewhere have found chance encounters among employees of different companies can kickstart innovation, reports Bart Ziegler for The Wall Street Journal. Researchers explained that such chance meetings “may spark a conversation that leads to a transfer of knowledge or a collaboration,” writes Ziegler.
Eleven fellows have been selected for the 2023-2024 Morningside Academy for Design (MIT MAD) program, reports Designboom, which is focused on offering “opportunities for students, faculty, and the general public to explore the intersection of design, technology, and social impact.” The fellowship program is aimed at helping designers have a “real-world impact in fields such as sustainability, architecture, health, and social justice.”
A new working paper by Prof. Christian Wolf and his colleagues explores a “mechanism by which a government could run deficits and never have to pay them,” reports Peter Coy for The New York Times. The researchers found that “‘deficits contribute to their own financing via two channels.’ First, they can accelerate economic growth, which generates more tax revenue. Second, they can cause inflation to rise, which shrinks the effective cost of debt.
Prof. David Autor speaks with Greg Rosalsky of NPR’s Planet Money about the potential benefits and downsides of AI, sharing his hope that with the right policies in place to help prepare workers AI could be harnessed to help “reinstate the middle class.” Says Autor: "Basically, the middle-skilled workers of the future could be people who have foundational skills in healthcare, in the trades, in travel and services. Then, with the help of AI, they could get really good at these jobs.”
Prof. James Poterba, president of the National Bureau of Economic Research and a member on the Business Cycle Dating Committee, speaks with NBC Boston reporter Annie Nova about the practice of dating economic downturns. Poterba notes that examining economic fluctuations “helps to design policy going forward. It enables us to look back and say, for example, what are the consequences of interest rate increases?”
Writing for The Los Angeles Times, Institute Prof. Daron Acemoglu and Prof. Simon Johnson make the case that the development of artificial intelligence should be shifted “toward a focus on ‘machine usefulness,’ the idea that computers should primarily enhance human capabilities. But this needs to be combined with an explicit recognition that any resulting productivity gains must be shared with workers, in terms of higher incomes and better working conditions.”