Writing for The New York Times, graduate student Lucy Page examines how many people are still living in extreme poverty in middle-income countries such as China, India and Nigeria. “Governments are often slow to redistribute income to the poor for two main reasons: problems of capacity and problems of will,” Page and her co-author explain.
John Reilly, co-director of the MIT Joint Program on the Science and Policy of Global Change, writes for Fortune about the key components needed to create a Green New Deal. “A steady and slow buildup of spending would allow more time to select and evaluate green infrastructure options that have a reasonable chance of working,” writes Reilly. “We need the right size of government spending for the long term.”
In an article for Bloomberg Opinion, Noah Smith highlights Prof. David Autor’s recent lecture at the American Education Association. Autor shows that, “the urban-rural education gap has widened — in 1970, an American in a rural area was only 5 percent less likely to have a college degree as someone in an urban area, but by 2015 that gap had grown to 20 points.”
Quartz reporter Dan Kopf writes that a new study by MIT researchers demonstrates how the lack of jobs for workers without college degrees in American cities is contributing to income inequality. “Gentrification in some major cities may be as much a result of the decline in opportunities for people without college degrees as it is an influx of highly educated, highly paid workers,” writes Kopf.
Prof. David Autor speaks with Greg Rosalsky of NPR’s Planet Money about his new research on employment trends in the U.S. showing that cities are no longer meccas of opportunity for workers without college degrees. “We need to carefully examine our assumptions that superstar cities are the land of opportunity for everyone,” says Autor.
Writing for the Financial Times, graduate student Daniel Aronoff highlights Prof. David Autor’s research showing the bleak economic outlook for Americans without college degrees. Aronoff argues the most important less from this work is that, “the economic issue that matters most — maybe the only issue that really matters at all — is education.”
New York Times reporters Emily Badger and Quoctrung Bui highlight Prof. David Autor’s new research that shows cities do not offer workers without college educations the same economic opportunities that they did in the past. Autor found that the declining urban wage premium has been caused by the “disappearance of ‘middle-skill jobs’ in production but also in clerical, administrative and sales work.”
New York Times columnist David Leonhardt highlights Prof. Emeritus Olivier Blanchard’s address to the American Economic Association, in which he argued that governments are overly concerned with debt. “Blanchard’s case revolves around the fact that economic growth rates in modern times are usually higher than interest rates. This pattern means that governments can often repay their debts more easily than people expect,” Leonhardt explains.
Prof. Emeritus and Nobel laureate Peter Diamond speaks with Meghna Chakrabarti of On Point about U.S. Rep. Alexandria Ocasio-Cortez’s proposal to increase the top marginal tax rate to 70 percent. “That will raise a lot of money that we could [use to] address some of our shortfalls and that will help us prepare for the large costs coming from climate change,” says Diamond of the proposal.
The Economist spotlights Prof. David Autor and graduate student Juliette Fournier’s research examining the economic prospects for Americans without college degrees. Autor and Fournier found that, “the earnings of workers without a college education have scarcely risen in 50 years, after adjusting for inflation; for men they have fallen. This stagnation coincided with tectonic changes in American employment.”
At the annual meeting of the American Economic Association, Prof. David Autor presented new research showing that middle-skill jobs for Americans without college degrees are becoming increasingly rare in dense areas, reports Jeanna Smialek and Peter Coy for Bloomberg News. “It’s not clear where the land of opportunity is for non-college adults,” says Autor.
The Wall Street Journal’s Jason Zweig examines the investment strategies of former Institute Prof. Paul Samuelson, including his purchases of Berkshire Hathaway stock in the early 1970s. Zweig notes, “In an interview this week, [Warren] Buffett says Prof. Samuelson believed the same thing he does: that markets are 'generally very efficient but not perfectly efficient.'”
In an article for The Boston Globe, Prof. Jonathan Gruber argues that a recent ruling by a federal judge in Texas that the Affordable Care Acts is unconstitutional puts the health of people around the country at risk and threatens our democracy. “If the courts overturn this outcome, it is an attack on the very process of representative government in the US,” writes Gruber.
Prof. David Autor speaks with Brendan Greeley, host of the Financial Times “Alphachat” podcast, about how trade and automation impact the economy and labor market. Autor emphasizes that the U.S. needs to “invest in people,” adding, “if you want to share the gains broadly...you need to find a way to bring people along.”
New York Times reporter Brad Plumer writes that a study by MIT researchers examines what forces contributed to the declining cost of solar panels. “We can cut emissions more quickly if we’re strategic about how we design energy policies and invest in R&D,” explains Prof. Jessika Trancik. “And one way to do that is to learn from past successes and figure out exactly why they happened.”