The Nobel Prize in economics has been awarded to Profs. Daron Acemoglu and Simon Johnson for their work studying the impact of societal institutions on country prosperity,” reports Neil Irwin for Axios. The awarded research uncovers why “some nations prosper while other are mired in poverty,” explains Irwin. “[It helps] explain why, showing that colonial societies built on extraction of wealth became poorer in the long run.”
The Associated Press highlights commentary from Prof. Daron Acemoglu and Prof. Simon Johnson following the announcement that the economists had been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their research into “why societies with poor rule of law and exploitative institutions do not generate sustainable growth.”. Acemoglu emphasized: Democracy directly “contributes to economic growth, not easily, not right away, it takes a couple of years and it's a difficult business to make democracy work. But generally, countries that democratize grow faster and they grow the right way, meaning they grow in a way that is more equal, and invest more in education and health, so both political and economic inclusion matter, and they are synergistic.”
The Nobel Prize in economics was awarded to Profs. Daron Acemoglu and Simon Johnson for their “research on prosperity gaps between countries – specifically how European colonization led to some nations being rich while others poor,” reports Rachel Siegel for The Washington Post. Speaking about the inspiration for his research, Johnson noted that questions around which countries became rich, and the extent to which institutions played a role, “were not really central to the economics I learned in graduate school. We had to do a lot of work to convince people institutions actually mattered in a really big way.”
Prof. Daron Acemoglu and Prof. Simon Johnson have been honored with the Nobel Prize in economics sciences for their work tracing “the institutional roots of national prosperity by exploring the vastly different outcomes in former European colonies,” explains Scott Horsley for NPR’s Morning Edition. “Democracies are going through a rough patch," says Acemoglu. "And it is in some sense quite crucial that they reclaim the high ground of better governance, cleaner governance, and delivering sort of the promise of democracy to a broad range of people."
Profs. Daron Acemoglu and Simon Johnson are two of the winners of this year’s Nobel Prize in economic sciences. Johnson joined CBS Boston to discuss his Nobel Prize-winning research and the potential impact of AI. "People are both too optimistic and too pessimistic if they believe AI can do more things than it really can, but they haven't thought through the way in which it could really wipe out middle-skill, middle-education, middle-income jobs,” says Johnson.
Profs. Daron Acemoglu and Simon Johnson have been awarded the Nobel Prize in economic sciences for their research that “advanced the understanding of economic disparities among countries,” reports Paul Hannon and Justin Lahart for The Wall Street Journal. “I’ll be very happy if this prize contributes to having more awareness of the importance of building better institutions, building better democracy,” said Acemoglu. “I think those are urgent challenges for us.”
AP reporters Daniel Niemann, Mike Corder and Paul Wiseman highlight the work of Profs. Daron Acemoglu and Simon Johnson, who have been honored with the Nobel Prize in economic sciences for their work demonstrating “the importance of societal institutions for a country’s prosperity.” Says Johnson of how AI could impact workers: “AI could either empower people with a lot of education, make them more highly skilled, enable them to do more tasks and get more pay. Or it could be another massive wave of automation that pushes the remnants of the middle down to the bottom.”
Prof. Simon Johnson, one of the recipients of this year’s Nobel Prize in economics, joins the PBS NewsHour to discuss the inspiration for his research, the role of institutions in economies around the world and how technology could be harnessed to create better jobs for all. Johnson notes that through his work with the MIT Shaping the Future of Work Initiative, he and his colleagues hope to “get more good jobs in the United States and around the world.” He adds that in the past, “we have managed things so that technology delivered benefits for a broad cross-section of society. But that's not what we have done in the past four decades. We need a course-correction, and that's what we're going to work on.”
Boston Globe reporter Alexa Gagosz spotlights the work of Profs. Daron Acemoglu and Simon Johnson, recipients of the 2024 Nobel Prize in economics for their research examining global inequality. MIT President Sally Kornbluth called Acemoglu and Johnson, who first stepped foot on MIT’s campus in 1985 as a graduate student, “prolific and influential scholars” whose work “reflects a very MIT interest in making a positive impact in the real world.” Kornbluth added: “Their historical investigations have a great deal to teach us about how and why real societies fail or thrive. And they [have] both become familiar voices in the news, public intellectuals trying to help us all make sense of a tumultuous world.”
Profs. Daron Acemoglu and Simon Johnson PhD '89 have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their work explaining the gaps in prosperity between nations and advancing our understanding of inequality, reports Jeanna Smialek for The New York Times. “Reducing the huge differences in income between countries is one of our times’ greatest challenges,” said Jakob Svensson, chairman of the economics prize committee. Thanks to the economists’ “groundbreaking research,” he said, “we have a much deeper understanding of the root causes of why countries fail or succeed.” Acemoglu reacted to winning the prize, noting that: “You dream of having a good career, but this is over and on top of that.”
Researchers at MIT and elsewhere have developed “a new method of 3D printing that uses heat-responsive materials to print multi-color and multi-textured objects in one step,” reports Laura Griffiths for TCT Magazine. “The method has so far been tested using three heat-responsive filaments including a foaming polymer with particles that expand as they are heated, and wood and cork fiber-filled filaments,” explains Griffiths.
Researchers at MIT have found that commercially available AI models, “were more likely to recommend calling police when shown Ring videos captured in minority communities,” reports Kyle Wiggers for TechCrunch. “The study also found that, when analyzing footage from majority-white neighborhoods, the models were less likely to describe scenes using terms like ‘casing the property’ or ‘burglary tools,’” writes Wiggers.
Researchers at MIT have developed GenSQL, a new generative AI system that can be used “to ease answering data science questions,” reports Allison Proffitt for Bio-It World. “Look how much better data science could be if it was easier to use,” says Research Scientist Mathieu Huot. “It’s not perfect yet, but we believe it’s quite an improvement over other options.”
Researchers at MIT have found large language models “often struggle to handle more complex problems that require true understanding,” reports Kirimgeray Kirimli for Forbes. “This underscores the need for future versions of LLMs to go beyond just these basic, shared capabilities,” writes Kirimli.
Researchers at MIT have developed a new method that “enables robots to intuitively identify relevant areas of a scene based on specific tasks,” reports Baba Tamim for Interesting Engineering. “The tech adopts a distinctive strategy to make robots effective and efficient at sorting a cluttered environment, such as finding a specific brand of mustard on a messy kitchen counter,” explains Tamim.