Economics

Folding Car to Transform Urban Driving…and Make Parallel Parking Obsolete

by Jay London on February 8, 2012

in Alumni Life,Design,Economics,Energy,Engineering,In the News,Modern Geekhood,Research,Transportation

Looking for a parking space in a major city can make public transportation very appealing. The biggest urban driving hassles usually come not with driving itself, but with the stopping, turning, parallel parking, and the can-I-fit-in-this-space challenges that arise when you’ve reached your destination.

Enter the Hiriko (the Basque word for “urban”), a new compact vehicle designed by the MIT Media Lab whose first fleet of 20 vehicles will debut in Vitoria Gasteiz, Spain, in 2013.

From the New York Times:

The pod-like electric vehicle, whose battery pack would be leased, is a two-seater with 4-wheel drive and a range in excess of 100 kilometers, or about 60 miles. Because its wheelbase can collapse, a single parking space can accommodate three vehicles. Driver and passenger enter through a windshield that swings upward.

Instead of a single electric engine, each wheel has an independent dedicated engine, which allows for an amazing degree in control in suspension, steering, and turning. Smaller than a Smart Car, the Hiriko spins and rotates on its axis, a technique that MIT researchers call an “O-turn.” It also moves sideways, making parallel parking obsolete.

Professor Kent Larson leads the car’s Media Lab researcher team. A production model was unveiled before the European Union Commission in Brussels last week. In addition to Spain, future trials are planned in Boston, San Francisco, Berlin, Hong Kong, and Malmo, Sweden. Similar to ZipCar in the United States, the cars will be shared by users who will have access for a few hours at a time. Cars may be sold to individuals in the future, with cost estimates currently ranging around $16,000.

In addition to the Hiriko, a Media Lab team led by doctoral candidates Ryan Chin and William Lark has also created a three-wheel electric vehicle prototype that can function as a bicycle and meets all European bike-lane regulations.

For more information and video on Hiriko (formerly the MIT CityCar), visit the “Changing Places” section on the Media Lab site.

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DIY IAP: Tune In to Xconomy on PBS

by Nancy DuVergne Smith on January 17, 2012

in Economics,Health,In the News,Management

Xconomy has MIT roots. Before starting the business and technology news organization, many key staffers worked and/or graduated from MIT (see below). Their output includes a news website with localized blogs in six major cities, events, and a regular Friday morning update on Boston’s WGBH radio. You can also sign up for their RSS feed or newsletters.

Xconomy online and on air.

Xconomy online and on air.

What stories do they cover? Startups, life sciences, health IT, and clean tech are interest areas. Recent stories include an interview with the CEO of Paris-based biotech giant Sanofi, survey results on tech managers’ salaries for 2011, and Morgenthaler Ventures investments in the fast-growing Silicon Valley startup Evernote.

Localized blogs hail from Boston, Detroit, New York, San Francisco, and Seattle. Learn about new social media research expansion at Microsoft Research New England (Boston); Walk Score, an online service that ranks rental properties, cities, and neighborhoods by how pedestrian-friendly they are (Seattle); and funding progress for the Kalamazoo, MI-based startup Axonia Medical (Detroit).

Who is Xconomy? Founder Robert Buderi was a research fellow in MIT’s Center for International Studies and served as editor in chief of MIT’s Technology Review, which also published these folks: Cofounder, COO, Executive Editor Rebecca Zacks worked in an MIT neuroscience lab and was a Knight Science Journalism Fellow at MIT. Wade Roush PhD ’94 is chief correspondent and editor of Xconomy’s San Francisco bureau. Gregory T. Huang SM ’02, PhD ’99 is national IT editor and editor of Xconomy Boston. Luke Timmerman, a former MIT Knight fellow, is the national biotechnology editor and editor of Xconomy Seattle.

Keep your ear tuned to innovation news at Xconomy.

 

 

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MIT 2030 Update: MIT to Spend $700 Million to Redevelop Kendall Square

by Jay London on December 22, 2011

in Design,Economics,Energy,In the News

MIT 2030 is a wide-ranging process designed to help MIT make thoughtful decisions about the physical campus and surrounding spaces such as Kendall Square.

The Kendall Square part of the equation has been in news, including New York City’s attempt to mimic the process with a plan to entice a premier university to establish a campus in the city. The MIT 2030 process advanced in November when MIT announced it is preparing to spend $700 million to redevelop eight properties in Kendall Square.

From The Boston Globe:

“Most of MIT’s work would be around the lower Main Street corridor near the MBTA Red Line station. The construction plan calls for about 1.1 million square feet of new space at eight locations in Kendall Square, including two large office, lab, and retail buildings along Main Street.”

MIT officials are working with neighbors and city planners to formulate a concrete plan that may include additional housing units and the first buildings could be finished within two or three years of getting permits.

MIT 2030 adds to a burgeoning development scene in and around Kendall Square, with new buildings hosting operations for some of the pharmaceutical, biotech, and technological industries leading companies.

From MIT News:

“In the past decade, the robust ecosystem for tech and biotech innovations has drawn large multinational corporations to locate in Kendall Square, particularly those specializing in the life sciences. Since Novartis moved in, pharmaceutical giants Sanofi Aventis, Merck and Genzyme have erected research facilities in Cambridge. Biogen Idec, a biotech company co-founded by MIT’s Phillip Sharp, moved from Kendall Square to a suburban location seven months ago, and is now returning its headquarters to the square. And this week, MIT and Pfizer broke ground on a new complex that will house the company’s Cardiovascular, Metabolic, and Endocrine Disease (CVMED) and Neuroscience research units.”

For more information, view the video on the 2030 website. For information on Kendall Square developments, follow @kendallnow on Twitter.

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Electric Grid’s Future: Increased Risk of Attack

by Jay London on December 14, 2011

in Economics,Energy,Engineering,In the News,Research

Despite growing smarter, the U.S. electric grid is expected to become more vulnerable and a prime target for a cyber attacks, according to a new report from the MIT Energy Initiative. The report, “The Future of the Electric Grid,” was published on Dec. 5 and cites weaknesses in oversight, processes, new communication devices, and the grid’s existing physical environment.

The study, led by MIT professors John Kassakian and Richard Schmalensee, focuses on the electric grid’s challenges over the next 20 years, including safeguarding the existing power structure, the rising prices in fossil fuels, and in the potential influx of renewable energy sources. The 268-page report also calls for the designation of a single federal agency to combat cyber attacks. President Barack Obama and his administration have advocated for the Department of Homeland Security to take the lead; other members of Congress would prefer the Department of Energy or the Federal Energy Regulatory Commission.

From The Future of the Electric Grid:

“This lack of a single operational entity with responsibility for grid cyber-security preparedness as well as response and recovery creates a security vulnerability in a highly interconnected electric power system comprising generation, transmission, and distribution.”

The report criticizes the current kilowatt/hour pricing system and concludes that the while the power grid is adequate for meeting today’s power needs, it will have trouble integrating alternative power sources like wind and solar. It also acknowledges that a cyber-attack will eventually succeed, and an investment of about $3.7 billion is needed to adequately secure the grid from attack.

From the report:

“Perfect protection from cyber-attacks is not possible. It is thus important for the involved government agencies, working with the private sector in a coordinated fashion, to support the research necessary to develop best practices for response to and recovery from cyber-attacks on transmission and distribution systems, so that such practices can be widely deployed.”

“The Future of the Electric Grid” is the sixth in the MIT Energy Initiative’s future-focused series, which has also studied natural gas, nuclear fuel, and transportation. For more information, view the report or watch a video discussing the report’s findings.

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New Greek Prime Minister Hails from MIT

by Nancy DuVergne Smith on November 11, 2011

in Alumni Life,Economics,In the News

Greek Prime Minister Luca Papademos

New Greek Prime Minister Lucas Papademos--photo courtesy Aris Messinis/AFP/Getty Images

Yasoo! Greece’s debt troubles are shaking world financial markets—and shifting the career trajectory of MIT alumnus Lucas Papademos ’70, SM ’72, PhD ’78. A former banker and European Central Bank vice president, Papademos was named interim prime minister of Greece on Thursday.

Papademos, who earned his MIT degrees in physics, electrical engineering and computer science, and economics, is taking on the enormous task of forming a new national unity government that will be charged with implementing the controversial European Union bailout package. The new government was due to be sworn in today at noon GMT.

The Guardian reports on his background:

“As he pointed out himself, he is an economist not a politician—having held academic positions at Columbia University, Harvard University and the University of Athens. He also worked for the Boston branch of the Federal Reserve.

“But Papademos’s biggest job within Greece, until now, was to run the Bank of Greece between 1994 and 2002. That stint covered the period in which Greece prepared to join the eurozone (it was admitted at the start of 2001). He had previously served as the bank’s chief economist for nearly a decade.

“Papademos went onto become vice-president of the European Central Bank, from 2002 to 2010. He left that job to become as an advisor to George Papandreou.”

 Learn more about Papademos in a Guardian profile.

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Faculty Forum Online: The Real Solution is Growth, Oct. 26

by Amy Marcott on October 24, 2011

in Economics,Events,Learning

MIT Faculty Forum Online logoUpdate: View a video of the presentation.

In the U.S., recent headlines have focused on such issues as the debt ceiling, the recent credit rating downgrade, and unemployment. But consider this: increasing the average growth rate in the U.S. by one percentage point over the next 20 years would not only result in much higher incomes and more jobs but would also obviate the need for drastic spending cuts today to reign in the government deficit.

With a 2% increase per year, average incomes, and to a first approximation government tax revenues, would be 49% higher in 20 years than they are today; with a 3% increase per year, they would be 81% higher.

The underlying message? We should not take our eye off the really important ball: economic growth and the innovation process that underpins it.

The Faculty Forum Online series continues on Wednesday, Oct. 26, from Noon to 12:30 p.m. EDT. MIT Economics Professor Daron Acemoglu will offer his thoughts on the economy and growth and take questions from the worldwide MIT alumni community via video chat.

Register for this free event to receive the link for live viewing. After the event, come back here and continue the conversation about economic growth in the comments.

MIT economics Professor Daron Acemoglu

MIT Economics Professor Daron Acemoglu.

About Daron Acemoglu

Daron Acemoglu is the Elizabeth and James Killian Professor of Economics at MIT. He earned his bachelor’s degree from the University of York and a master’s and doctorate from the London School of Economics. He began teaching at MIT in 1993, becoming a full professor in 2000. In addition to the books listed below, he’s written numerous journal articles. His fields of interest include political economy, economic development, economic growth, economic theory, technology, income and wage inequality, human capital and training, labor economics, and network economics.

Books

Why Nations Fail: The Origins of Power, Prosperity and Poverty (with James A. Robinson), Crown publishers (Random House), forthcoming March 2012.

Economic Origins of Dictatorship and Democracy (with James Robinson), Cambridge University Press, 2006.

Introduction to Modern Economic Growth, Princeton University Press, 2009.

Learn more about Daron Acemoglu and read his blog post about economic growth for the Harvard Business Review.

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Make Your (SHASS) Day

by Nancy DuVergne Smith on August 22, 2011

in Arts,Economics

The summer issue of Said and Done, a enewsletter from the School of Humanities, Arts, and Social Sciences, presents these tasty bits:

Watch the performance by Daniel Manesh ’14, piano; Albert Wu ’14, violin; and graduate student Yoni Kahn G, horn.

Watch the performance by Daniel Manesh ’14, piano; Albert Wu ’14, violin; and graduate student Yoni Kahn, horn

Watch a short video of three MIT students and the MIT Chamber Music Society performing the Finale of the Trio for Piano, Violin, and Horn by Johannes Brahms (Trio Op. 40, 1865).

Or, in another performance, hear MIT students and alums of the MIT Chamber Music Society play the first movement of the String Quintet in C major by Franz Schubert.

Read a  Slate magazine interview with Economics Professor Jonathan Gruber, who is shaping health care reform at the national and state level.

Learn about The Deaths of Others, a new book that explores the fate of civilians in America’s wars by  John Tirman, executive director of the MIT Center for International Studies.

Browse in the SHASS bookshelf.

 

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Data Junkies, You’ll Love This

by Amy Marcott on August 12, 2011

in Economics,Engineering

NSF chart of university degrees in natural science and engineering in selected countries.

Click the image to enlarge

The National Science Foundation’s 2010 Science and Engineering Indicators (SEI) report is quite possibly the mother lode of data. SEI is a compilation of quantitative stats from a variety of national, international, public, and private sources that show the world’s changing science and technology picture on a variety of fronts: education, labor, R&D, academic research, industry, and more.

Among other things, the data indicate that developing and developed nations alike have firmly built science and technology into various economic, educational, and infrastructure policies to help boost economic viability and future global competitiveness.  Represented here is just a tiny sampling of the myriad stats available.

You can also find out public attitudes and understanding of science and technology, the economics behind U.S. exports and imports of commercial knowledge-intensive services, and the U.S. metropolitan areas with the highest percentage of workers in science and engineering occupations (below), which had one sophomore blogger for the MIT Admissions Office very excited.

Check out the statistics for yourself. The raw data are also available. Think of all the pie charts and graphs you can make!

NSF slide of doctoral degrees in natural sciences and engineering in selected countries

Click image to enlarge

NSF table of top metropolitan areas for science and technology careers.

The U.S. metropolitan areas with the highest percentage of workers in science and engineering occupations. Click image to enlarge.

 

 

 

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Join the Online Debate: Collective Bargaining, March 21

by Amy Marcott on March 18, 2011

in Economics,Learning

MIT Faculty Forum Online logo

Update: Watch the video from  this program on the Alumni Association website.

Are the current efforts by some governors to eliminate or curtail collective bargaining an attack on workers’ rights or fiscal necessity? One of the Institute’s key thinkers and a national expert in this area, Professor Thomas A. Kochan of the MIT Sloan School, will offer his thoughts and take questions from the worldwide MIT alumni community on Monday, March 21, from noon to 12:30 p.m. EDT.

This video chat, the inaugural webcast of Faculty Forum Online, presents a unique opportunity to debate an important issue with an MIT expert. Register for this free event. Once you register, the URL for the webcast will be sent to you for live viewing.

After the event, come back here and continue the conversation in the comments.

Thomas A. Kochan

Thomas Kochan taught at Cornell from 1973 to 1980 before coming to MIT.

Thomas Kochan is the George Maverick Bunker Professor of Management at MIT’s Sloan School of Management, professor in MIT’s Engineering Systems Division, and codirector of both the MIT Workplace Center and the Institute for Work and Employment Research.

In 1973, he received his Ph.D. in industrial relations from the University of Wisconsin and has since served as a third-party mediator, fact finder, and arbitrator and as a consultant to a variety of government and private-sector organizations and labor-management groups—he helped Boston resolve its standoff with the firefighters’ union last year, for example.

He has researched a variety of topics related to industrial relations and human resource management in the public and private sector, and he’s written, cowritten, and edited numerous books and journal articles.

His most recent books include Healing Together (ILR Press, 2009), about Kaiser Permanente’s complex labor-management partnership, and Restoring the American Dream: A Working Families’ Agenda for America (MIT Press, 2005).

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Sloan Experts Blog on Hot Topics

by Nancy DuVergne Smith on March 3, 2011

in Economics,Management

Experts guides are part of a good university’s outreach program but when faculty experts shed light and offer facts on timely topics, that’s really good. The new MIT Sloan Experts Blog is doing just that.

sloan experts blog

Sloan Experts blog

Launched in February, the blog kicked off with Professor Tom Malone’s post on Solving Climate Change with Crowdsourcing, a commentary on the Climate CoLab project that has an online community of people worldwide “already creating, analyzing, and discussing detailed proposals for how to address global climate change.”

Recents posts probe the battle in Wisconsin between the governor and public-service employees. Professor Thomas Kochan offers facts that illuminate the issues including conflicting characterizations of public unions as either 1. the cause of states’ and cities’ financial challenges or 2. a scapegoat demonized by politicians who want to reduce workers’ wages and rights. “The Wisconsin virus: Some facts to control the spread” offers some data.

John Minahan PhD ’88, former pension consultant-turned MIT Sloan lecturer, takes on the intense politicization around whether public pension plans are adequately funded, especially whether current  actuarial rules can resolve that question. Read Debate about public pension plans should include understated funding levels for his take.

Read the MIT Sloan Experts Blog for these and other topics from Greece’s $100-plus billion bailout package last May t0 an overview of MIT Sloan Management Review’s articles about surprising sustainability boosts in a post-recession world.

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