Writing for Financial Times, economist Ann Harrison spotlights research by Prof. Daron Acemoglu, Pascual Restrepo PhD '16 and Prof. David Autor, that explores the impact of automation on jobs in the United States. Acemoglu and Restrepo have “calculated that each additional robot in the US eliminates 3.3 workers” and that “most of the increase in inequality is due to workers who perform routine tasks being hit by automation,” writes Harrison.
A study by MIT researchers has uncovered an, “intricate relationship between jobs and the nation’s energy transition,” reports Kaleigh Harrison for Environment + Energy Leader. The study, “presents an unprecedented county-level examination of the U.S., identifying regions most intertwined with fossil fuels – ranging from intensive drilling and mining operations to heavy manufacturing sectors,” writes Harrison. “The findings underscore not only the expected impact on traditional energy bastions but also highlight the broader, often overlooked, implications for areas heavily invested in manufacturing.”
Fast Company reporter Kristin Toussaint spotlights how MIT researchers have developed a new map detailing how the shift to clean energy could impact jobs around the country. The researchers found that workers could be most impacted in areas that drill for oil and gas, as well as “regions with a high concentration of manufacturing, agriculture, and construction—all industries that rely heavily on coal, oil, and gas.”
New York Times reporter Ana Swanson spotlights a working paper co-authored by Prof. David Autor which suggests “the sweeping tariffs that former President Donald J. Trump imposed on China and other American trading partners were simultaneously a political success and an economic failure.” Autor and his colleagues found that “the aggregate effect on U.S. jobs of the three measures — the original tariffs, retaliatory tariffs and subsidies granted to farmers — were ‘at best a wash, and it may have been mildly negative.’”
New York Times opinion writer Peter Coy spotlights the MIT Shaping the Future of Work Initiative, a new effort aimed at analyzing the forces that are eroding job quality for non-college workers and identifying ways to move the economy onto a more equitable trajectory. Nothing is “inexorable,” said Prof. Daron Acemoglu during the project’s kickoff event. “The answer in most cases is, AI will do whatever we choose it to do.”
The Economist spotlights new research by Prof. Ivan Werning suggesting a refined economic model to address the post-pandemic economy. Werning’s model adjusts “not just to a shift in demand from services to goods, but to supply-chain disruption, energy shocks and employees in some sectors working from home,” explains The Economist. “As such, inflation moved through the economy in waves, starting in select goods then spreading out.”
Bloomberg reporter Boyan Ivanchev spotlights research by Prof. Drazen Prelec and Prof. Duncan Simester that finds, “credit card buyers were willing to pay over 100% more for tickets, due to the behavioral pattern that psychologically causes the credit card buyer to perceive the purchase as a type of deferred payment, and therefore, not immediately feel the psychological discomfort, as when letting this amount go when paying cash.”
Writing for Wired, Institute Prof. Daron Acemoglu predicts that expectations for generative AI will need to recalibrated during the year ahead. Acemoglu notes that he believes in 2024, “generative AI will have been adopted by many companies, but it will prove to be just ‘so-so automation’ of the type that displaces workers but fails to deliver huge productivity improvements.”
Prof. Jessika Trancik speaks with Associated Press reporter Alexa St. John to discuss electric vehicle emissions and ownership costs. Trancik notes, “buyers should consider total cost of ownership, which for an EV is generally less than that of a gas-powered counterpart due to savings on maintenance and fuel.”
Prof. Florian Berg speaks with Fortune reporter Paolo Confino about the future of ESG initiatives. “The problem is that companies and also investors are often not really honest about their intentions,” Berg says. “They might actually sell something that’s purely a profit-driven decision and then write it in a report as they’re doing a lot for society even though they’re just engaging in profit maximization.”
Prof. David Autor speaks with Bloomberg about the future of generative AI and the technology’s potential impact on productivity and the labor market. “When we interact with AI, we need to learn how to treat it not as authoritative, but as a guide to support decision making, and that’s really critical,” says Autor.
The Economist spotlights the life of Prof. Emeritus Robert M. Solow, a Nobel laureate whose work in growth theory “added both to national spending and the economy’s productive capacity.” The Economist notes that: “the MIT culture he embodied disdained hierarchy, cherished collegial lunches and made time for students, many of whom became illustrious friends.”
A new analysis from MIT researchers has found that preventative screenings such as a colonoscopy and sigmoidoscopy can reduce cancer rates more than previous analyses suggested, reports Ernie Mundell for HealthDay. “Prior colon cancer screening studies found that regular colonoscopy/sigmoidoscopy reduced that rate by 25% -- to 0.75%,” explains Mundell. “But the new analysis took into account the number of participants in a colon cancer screening trial who decided, for whatever reason, to skip screening. When these "non-adherent" folks were eliminated from statistical calculations, the actual percentage of people who went on to develop colon cancer over a 10-year span fell to just 0.5%.”
Writing for STAT, Prof. Joseph Doyle addresses new research that suggests food “as medicine can improve health and lower health care costs.” “Researchers, clinicians and policymakers all share a common goal to fight food insecurity and improve population health,” writes Doyle. “Randomized clinical trials are key tools for discerning what works best, for whom and why, information that we should all be hungry for.”
Prof. Emeritus Robert M. Solow, recipient of the 1987 Nobel Prize in Economics for his work in economic growth theory, has died at age 99, reports Austen Hufford for Wall Street Journal. “Heinstilled in the field of economics a focus on turning complex issues into simple formulas, allowing even freshman in college to grasp and debate important topics,” writes Hufford.