Jump-starting the economy with science

Jon Gruber & Simon Johnson  Image: M. Scott Brauer and MIT Sloan

Jon Gruber & Simon Johnson Image: M. Scott Brauer and MIT Sloan

In a new book, MIT professors say more public investment in science will create a better economy for all.

In an article for The Boston Globe , Profs. Jonathan Gruber and Simon Johnson underscore how federal investment in scientific research could be used to help ease income inequality in America. "Scaled-up and deployed strategically across most states, we estimate that an investment of $100 billion per year in public research and development could help create 4 million good new jobs," they write.

Profs. Jonathan Gruber and Simon Johnson speak with MSNBC’s Stephanie Ruhle about their book, which argues that government investment in scientific research can help tackle income inequality. Gruber explains that inequality in America is place-based, noting that "we need a solution that is going to help the rest of the country, not just super-star cities, and we think place-based federal R&D can do that."

Profs. Jonathan Gruber and Simon Johnson discuss their new book, which argues that investment in scientific research is key to jump-starting the American economy, on Boston Public Radio. "We invest in science, turn that science into jobs," says Johnson, "and spread that around the country. The coastal superstar cities have become extremely expensive, but there’s a tremendous amount of talent spread across the U.S."