Prof. Jonathan Gruber joins GBH’s All Things Considered to discuss stock market jitters, AI hype and interest rates, urging calm and a long-term view. “No one who’s in the market should be overreacting to one day’s movement,” Gruber says. “These short-run reactions are really overreactions to individual bits of news.”
Prof. Simon Johnson and Prof. David Autor speak with New York Times reporter Emma Goldberg about the anticipated impact of AI on the job market. “We should be concerned about eliminating them,” says Prof. Simon Johnson, of the risks posed by automating jobs. “This is the hollowing out of the middle class.”
Bloomberg’s David Westin talks with Prof. Kristin Forbes at the Aspen Economic Strategy Group meetings focused on monetary and fiscal policy. Despite progress in the inflation fight, "we as economists forget that this price of a basket of goods matters to people. Things are more expensive," she says.
In an essay for Project Syndicate, Prof. Simon Johnson underscores for the need for countries around the world to “make strategic investments in key technologies, to create more good jobs, and to stay ahead of increasingly aggressive geopolitical competitors.” Johnson emphasizes: “If you want more good jobs, invest in science, facilitate the commercialization of the technology that results from it, and make it easy for people to build companies where the product was invented.”
Writing for The New York Times, Prof. Daron Acemoglu and University of Chicago Prof. James A. Robinson propose solutions to address growing distrust in democracy. “We need a new democratic social contract that people can believe in,” they write. “Democracy does not need to follow a majoritarian opinion on every topic, but it cannot sideline the views of the majority of the population, even on divisive subjects such as immigration.”
A new working paper by Prof. Anna Stansbury and Research Associate Kyra Rodriguez looks at the “class gap” among US Ph.D.-holders in science, social science, engineering and health, reports Soumaya Keynes for the Financial Times. The paper found “those whose parents did not have a college degree are 13 per cent less likely to end up with tenure at a top university than those with more educated parents. They also tend to end up at lower-ranked institutions,” Keynes explains.
Prof. Jonathan Gruber speaks with WGBH’s Craig LeMoult about the bidding process around seven Massachusetts hospitals being sold by Steward Health Care. “I hope that someone innovative can figure out a way to take these existing assets…and turn them into an effective competitor to the [Mass General Brigham] network because we need more competition in health care in Massachusetts,” says Gruber.
Institute Prof. Daron Acemoglu speaks with CNBC Last Call host Brian Sullivan about what he describes as exaggerated claims about the macroeconomic effects of AI. “I am completely convinced that there are some impressive changes and there are some things that AI can really help us with, but it's not going to suddenly revolutionize everything we do,” Acemoglu says. “And if it's going to do it, it's going to take a while.”
Writing for The Financial Times, Prof. Esther Duflo makes the case that the following the legislative elections in France, politicians must come up with a new vision for the country that “combines production, redistribution and protection of the environment; that promotes respect and dignity of all people; that has the courage to lead the way on the big projects that France, Europe and the world need. Chief among them: fiscal reform, a just green transition, and a way to distribute the gains of growth in a more equitable way to all.”
Prof. Nancy Rose speaks with NPR’s Planet Money hosts Erika Beras and Kenny Malone about the impact of airline deregulation and the aircraft industry. “We need these kind of smaller carriers who want to grow, who want to go in and take share from the majors because they're the ones that are keeping the price pressure on,” says Rose.
Reuters reporter Felix Martin highlights Prof. Daron Acemoglu’s research demonstrating how AI may not help improve productivity in the developed world. Acemoglu has found that broad productivity growth from reasonable estimates of AI replacing humans in the workplace “would increase by only around half a percentage point over 10 years. That is barely a third of the ground lost since 2008,” Martin explains.
Writing for the Boston Business Journal, MITEI Director William Green emphasizes that in order to address the climate crisis, "we need to convene universities, industry, and government to address the challenges of every sector including construction, manufacturing, agriculture, and the electric grid." Green notes: "We at MIT are searching for real climate solutions that the public will adopt, and that merit the huge investments necessary for wide deployment. By working collaboratively to solve these complex issues we will successfully address the greatest threat facing humanity today."
Wall Street Journal reporter Justin Lahart spotlights the work of Prof. David Autor, an economist whose “thinking helped change our understanding of the American labor market.” Harvard Prof. Lawrence Katz says Autor has “probably been the most insightful and influential scholar of the labor market” in decades. “To me, the labor market is the central institution of any society,” says Autor. “The fastest way to improve people’s welfare is to improve the labor market.”
Prof. Yasheng Huang joins a Financial Times podcast to speak with James Kynge about how China’s technological advancement and economic growth could be threatened by the country’s increasing authoritarianism. “My own prediction is that if Chinese domestic policy doesn’t change substantially, the pace of technological and scientific progress that we have witnessed during the reform era, that pace is going to slow down,” Huang says.
Prof. Daron Acemoglu speaks with Greg Rosalsky of NPR’s Planet Money about AI’s potential effect on jobs, specifically the translation business. “I think how good AI has become is often exaggerated,” says Acemoglu. “But there is pretty much nothing that humans do as meaningful occupation that generative AI can now do. So in almost everything it can at best helps humans, and at worst, not even do that.”