Scientific American reporter Simon Makin writes that MIT researchers have developed a new approach to extract correct answers from a crowd. “The new method performed better than majority or confidence-based methods alone, reducing errors by between 21 and 35 percent,” Makin explains.
Wall Street Journal reporter David Harrison writes that a study by Prof. Daron Acemoglu shows that aging populations have not had a negative effect on economic growth. The researchers found that investments in robotics “make it easier for firms to replace departing workers even when there are fewer younger workers to take the retirees’ place.”
Melvin Konner writes for The Wall Street Journal about new MIT research that shows mobile-money services helped lift at least 194,000 Kenyan households out of extreme poverty. The researchers found that the services significantly helped women, and estimated that mobile banking “induced 185,000 women to switch into business or retail” from farming, and increased saving.
A study by MIT researchers examines how the growth in pet health care spending can provide insights into the increase in human health care costs, writes Austin Frakt for The New York Times. Emotional treatment spending may explain “high and sometimes heroic end-of-life health care spending whether on your dog or on your mother,” explains Prof. Amy Finkelstein.
In an article about how to rebuild failed states, The Economist highlights Prof. Daron Acemoglu’s book “Why Nations Fail.” Acemoglu and his co-author Prof. James Robinson of the University of Chicago argue that political institutions largely determine a nation’s success, and that failed states provide “a general explanation for why poor countries are poor.”
Robert Gebelhoff writes for The Washington Post about a study by Prof. Tavneet Suri that shows mobile-money services helped reduce poverty in Kenya. The study “offers good evidence that having a place to put money that’s safe and easily accessible can make the lives of poor people considerably more efficient than cash-reliant economies,” Gebelhoff explains.
Richard Florida writes for The Atlantic’s CityLab site about Prof. Emeritus Peter Temin’s research examining how growing class and racial divisions in America are creating a dual economy. In the new, highly-segmented economy, “education, which was once a force for the homogenization of the labor force,” Temin argues, “has become a barrier reinforcing the dual economy.”
Prof. Amy Finkelstein writes for the Health Affairs Blog about the need for relying on evidence to set health care policy, citing her own randomized, controlled study of Oregon’s health care system. “We need to rely on evidence from rigorous research—rather than compelling anecdotes—to get an accurate assessment of a policy’s effects,” Finkelstein explains.
Writing for The Boston Globe, Prof. Jonathan Gruber details the adverse effects of repealing the Affordable Care Act. Gruber notes that the law “expanded health insurance to more than 20 million Americans through several different approaches, including Medicaid expansion, subsidies for private coverage, the elimination of the ban on preexisting conditions, and an individual mandate.”
Popular Science reporter Kate Baggaley writes that a new study by MIT researchers shows that mobile money services helped two percent of households in Kenya rise out of poverty. “Women especially have benefitted from the spread of mobile money, which has helped many move from farming into business,” writes Baggaley.
Prof. Tavneet Suri has found that mobile money services helped lift almost 200,000 Kenyan households, many headed by women, out of poverty, reports Neda Wadekar for Reuters. Suri explains that when mobile payment systems “came to an area, women shifted their occupations and their savings went up."
Wall Street Journal reporter Bob Davis writes about a study by Prof. David Autor that shows U.S. industries facing increased competition from China reduced R&D spending. Autor notes the findings show the importance of federal support for R&D.
Writing for the Financial Times, Prof. Daron Acemoglu examines how a new administration in Washington, D.C. could impact Turkey’s growth. While the implications “are likely to be dire for the Turkish economy,” Acemoglu adds that “even modest attempts towards a more inclusive economy can spearhead rapid and relatively high-quality growth.”
A study co-authored by Prof. Christopher Knittel finds that technological advances are needed to reduce the use of oil in the car industry, according to The Economist. The researchers found that “the price of batteries to power EVs would need to fall by a factor of three, and they would need to charge much faster.”
Prof. Thomas Kochan writes for The Huffington Post that a new social contract is needed in America to ensure that the economy works for everyone. Kochan writes that “America needs to build a new social contract based on mutual respect and attuned to the needs of today’s workforce and economy.”