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The 2024 <keyword id="23488364" type="General" weightage="20" keywordseo="Nobel-Prize-in-Chemistry" source="keywords">Nobel Prize in Chemistry</keyword> honors breakthroughs that are revolutionizing our understanding of proteins, which are fundamental to biological processes. The <keyword id="23473694" type="General" weightage="20" keywordseo="Royal-Swedish-Academy-of-Sciences" source="keywords" meta.keywordsubtype="org" meta.entityname="Royal Swedish Academy of Sciences" meta.hostid="261" meta.entityid="Royal Swedish Academy of Sciences">Royal Swedish Academy of Sciences</keyword> has awarded the prestigious prize to three scientists: one half to <keyword id="22955998" type="General" weightage="20" keywordseo="David-Baker" source="keywords">David Baker</keyword> for his pioneering work in computational <keyword id="21969344" type="General" weightage="20" keywordseo="protein-design" source="keywords">protein design</keyword> and the other half jointly to <keyword id="20754534" type="General" weightage="20" keywordseo="Demis-Hassabis" source="keywords">Demis Hassabis</keyword> and John M. Jumper for their groundbreaking contributions to <keyword id="23487713" type="General" weightage="20" keywordseo="protein-structure-prediction" source="keywords">protein structure prediction</keyword>. David Baker's research focuses on designing new proteins that do not exist in nature. His computational models allow scientists to create proteins with specific functions, unlocking potential advancements in medicine, biotechnology, and synthetic biology. On the other hand, Demis Hassabis and John M. Jumper, co-creators of the AlphaFold project, have made significant strides in predicting how proteins fold into their three-dimensional shapes. This achievement has solved one of biology’s grand challenges, providing a tool that can potentially accelerate <keyword id="19932284" type="General" weightage="20" keywordseo="drug-discovery" source="keywords">drug discovery</keyword> and enhance our understanding of diseases. This year's award adds to a legacy of <keyword id="21736174" type="General" weightage="20" keywordseo="scientific-breakthroughs" source="keywords">scientific breakthroughs</keyword> recognized by the Nobel Prize. In 2023, Moungi G. Bawendi, Louis E. Brus, and Alexei I. Ekimov were honored for their work on quantum dots, tiny particles with vast implications for electronics and medical imaging. With a cash prize of 10 million Swedish kronor (approximately $900,000), the Nobel Prize, established by Alfred Nobel, continues to celebrate achievements that have the "greatest benefit to humankind." The Chemistry laureates will receive their awards in a ceremony on December 10, alongside the winners of other categories including Physics, Medicine, Literature, Peace, and Economic Sciences. <div type="Article" hostid="261" msid="114046455" title="Love ChatGPT and Alexa? This year’s Physics Nobel Prize has been awarded to two scientists who made these AI technologies possible" mstype="2" mssubtype="0"></div>

Nobel Prize in Chemistry 2024 shared by David Baker, Demis Hassabis, John M Jumper for work on protein

In a world where <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> powers everything from our phones to our smart homes, it's easy to forget the humble origins of these powerful technologies. Today, the Nobel Committee reminds us of these roots by awarding the 2024 <keyword id="441955" type="General" weightage="20" keywordseo="nobel-prize-in-physics" source="Orion">Nobel Prize in Physics</keyword> to two extraordinary scientists — <keyword id="23474083" type="General" weightage="20" keywordseo="John-Hopfield" source="keywords">John Hopfield</keyword> and <keyword id="20943380" type="General" weightage="20" keywordseo="Geoffrey-Hinton" source="keywords">Geoffrey Hinton</keyword> — for their groundbreaking work on artificial <keyword id="21395212" type="General" weightage="20" keywordseo="neural-networks" source="keywords">neural networks</keyword>, the cornerstone of today’s <keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>. <h2>The story of neural networks</h2>Artificial neural networks, the technology that drives modern AI, mimic the way human brains process information. These networks consist of nodes, or “neurons,” that connect and influence one another, much like synapses in our own brains. This network architecture allows AI to learn and improve over time, making it capable of tasks like recognising speech, translating languages, and even generating human-like text. The Nobel laureates were instrumental in building this foundation, each contributing uniquely to the development of neural networks. John Hopfield, a professor at Princeton University, introduced the <keyword id="23474696" type="General" weightage="20" keywordseo="Hopfield-network" source="keywords">Hopfield network</keyword> in the 1980s. His method allowed AI to recognise and reconstruct patterns, enabling it to “remember” data in a way that was previously unimaginable. <div type="Article" hostid="261" msid="114014575" title="AI expert Gary Marcus thinks OpenAI will be the &amp;#39;most Orwellian company of all time&amp;#39;" mstype="2" mssubtype="0"></div>On the other side of the Atlantic, Geoffrey Hinton, a professor at the University of Toronto, was working on his own innovations. Building on Hopfield’s ideas, Hinton developed the <keyword id="23474695" type="General" weightage="20" keywordseo="Boltzmann-machine" source="keywords">Boltzmann machine</keyword>, a system that could autonomously find properties in data and recognise patterns. This network introduced the possibility of teaching AI to classify objects and even generate new examples, and it remains a fundamental part of AI technology today. <h2>Why physics?</h2>It may seem surprising that the <keyword id="20302580" type="General" weightage="100" keywordseo="Nobel-Prize" source="keywords">Nobel Prize</keyword> in Physics, traditionally awarded for work in the physical sciences, went to two scientists whose work is more closely associated with computer science and AI. However, as the Nobel Committee explains, these advances are grounded firmly in physics. Both Hopfield and Hinton applied principles of statistical physics to train neural networks, using concepts originally developed to describe the interactions between particles. The Hopfield network, for example, is based on the physics of atomic spin — a property that makes each atom a tiny magnet. Hopfields work utilised this concept to help his network “remember” patterns by aligning the connections between nodes to reduce energy, allowing it to retrieve images from memory in a manner similar to how a magnet aligns with a magnetic field. <div type="Article" hostid="261" msid="114040583" title="I talked to an AI-powered NPC thanks to Nvidia! True to her character, she surprised me with her princess attitude" mstype="2" mssubtype="0"></div>Hinton’s Boltzmann machine, meanwhile, leverages statistical physics to enable machines to learn. The system trains by running repeated examples through the network, gradually improving its accuracy at recognising specific features — much like how we recognise familiar faces in a crowd. <h2>Transforming the world of AI</h2>Hopfield and Hinton’s discoveries laid the groundwork for many of today’s most powerful AI tools, from language models like ChatGPT to image-recognition software used in medical diagnostics and autonomous vehicles. Without these early innovations, the AI systems that have become so integral to modern life would not exist. Their discoveries have far-reaching applications, from scientific research to the everyday technology we often take for granted. As Ellen Moons, Chair of the Nobel Committee for Physics, remarked, “The laureates’ work has already been of the greatest benefit. In physics, we use artificial neural networks in a vast range of areas, such as developing new materials with specific properties.” The recognition of Hopfield and Hinton’s work is not only a nod to the past but a beacon pointing toward the future. As AI continues to evolve, the foundation they built will remain crucial, inspiring new generations of scientists and researchers to push the boundaries of technology. It’s a testament to the enduring impact of their work that we are only beginning to scratch the surface of what’s possible with AI.

Love ChatGPT and Alexa? This year’s Physics Nobel Prize has been awarded to two scientists who made these AI technologies possible

<ul class="summary-list"><li>US-based academics Daron Acemoglu, Simon Johnson, and James A. Robinson won the Nobel Prize in economics.</li><li>Their work has helped demonstrate how institutions affect wealth inequality, the prize committee said.</li></ul>Three economists based at US universities have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences for their work on how institutions affect wealth inequality.<a target="_blank" class="" href="https://www.businessinsider.com/ai-chatgpt-replace-jobs-unemployment-salaries-technology-economist-daron-acemoglu-2023-9">Daron Acemoglu</a>, Simon Johnson, and James A. Robinson will share the $1.1 million prize money, the <a target="_blank" class="" href="https://www.nobelprize.org/prizes/economic-sciences/2024/summary/">prize committee</a> said.The prize, known in its entirety as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is widely considered the most prestigious prize in the field."Reducing the vast differences in income between countries is one of our time's greatest challenges," said Jakob Svensson, chair of the Committee for the Prize in Economic Sciences. "The laureates have demonstrated the importance of societal institutions for achieving this."The three economists have developed theoretical tools that can explain why differences in institutions persist and how institutions can change, the committee said in <a target="_blank" class="" href="https://www.nobelprize.org/prizes/economic-sciences/2024/popular-information/">a press release</a>.Acemoglu and Johnson are professors at the Massachusetts Institute of Technology, while Robinson is director of the University of Chicago's Pearson Institute for the Study and Resolution of Global Conflicts.

3 US-based academics awarded the Nobel Prize in economics for their work on wealth inequality

<ul class="summary-list"><li>Venki Ramakrishnan is a Nobel laureate and author of "Why We Die."</li><li>He thinks there's excessive hype around longevity, but there have been some breakthroughs.</li></ul>Venki Ramakrishnan, a Nobel laureate and former president of the world's oldest scientific academy, the Royal Society, has been watching as <a target="_blank" class="" href="https://www.businessinsider.com/essential-healthy-habits-for-your-twenties-thirties-longevity-advice-2023-12">aging science</a> and the hype around it has exploded.In the last 10 years alone, more than 300,000 scientific articles on aging have been published, and more than 700 start-ups have invested tens of billions of dollars into <a target="_blank" class="" href="https://www.businessinsider.com/anti-aging-longevity-trends-shock-testosterone-2023-3">aging research</a>, the microbiologist based in Cambridge, UK, writes in his book "Why We Die."There have been some real <a target="_blank" href="https://www.businessinsider.com/human-life-span-plateaued-what-you-can-do-long-life-2024-10">scientific breakthroughs</a>, deepening our understanding of the fundamental causes of aging, Ramakrishnan told Business Insider. But despite what companies who have jumped on the bandwagon will have you believe, "we're not there yet," when it comes to translating that research into real-life treatments, he said.The global longevity and anti-senescence therapy market was valued at $25.1 billion in 2020, and is projected to reach $44.2 billion by 2030, according to Allied Market Research group.Unlike medications prescribed by doctors, <a target="_blank" href="https://www.businessinsider.com/biohacker-husband-health-tests-before-dating-2024-10">biohacking treatments</a> such as ozone therapy and ostensible longevity-boosting <a target="_blank" href="https://www.businessinsider.com/what-is-nad-longevity-supplement-hollywood-uses-prevent-aging-2024-7">supplements like NAD+</a> aren't rigorously tested and approved by the FDA before hitting the market."I wouldn't spend enormous amounts of money on supplements until they're very well established to have a real benefit. I would wait for the evidence, but people always feel they can't wait because the clock is ticking. That's what I think a lot of these businesses capitalize on," he said."I'm not negative about longevity research or the science. There's a lot of very good science going on, but I am negative about some of the excessive hype," he said. He wrote his book to inject a note of realism into the space, he said.Ramakrishnan, 72, shared three simple, evidence-based lifestyle choices he prioritizes as he gets older.<h2 id="2e40d65e-22a6-4659-bb8c-295eaef8aa8e">Eating nutritious food in modest portions</h2><div type="image" title="Woman chopping tomatoes and onions on a wooden chopping board." height="1399" width="2142" msid="115079142" hostid="261" sizebytes="82302"></div>How we eat can have a huge impact on our health. Eating a diet high in <a target="_blank" href="https://www.businessinsider.com/eating-ultra-processed-foods-ovarian-brain-cancer-risk-2022-2">ultra-processed foods</a>, for example, has been linked to a higher risk of cardiovascular disease, type 2 diabetes, and cancer.Following a<a target="_blank" href="https://www.businessinsider.com/eating-healthy-can-cut-risk-of-dying-early-new-study-2023-1"> Mediterranean-style diet</a>, filled with lots of fruits, vegetables, lean protein, and whole grains, has meanwhile been linked to living a longer life.Ramakrishnan tries to eat a good mixture of protein, fruits and vegetables, and fiber, he said. He's a lifelong vegetarian and always cooks from scratch using basic ingredients.He also believes portion control is important and subscribes to the writer <a target="_blank" href="https://www.businessinsider.com/michael-pollan-diet-to-avoid-ultra-processed-foods-2024-4">Michael Pollan</a>'s famous food rule: "Eat food. Not too much. Mostly plants."<h2 id="ff3c388d-463c-44e1-a003-0a6a7bf54527">Cycling everyday</h2>Exercise has all kinds of benefits for healthy aging, Ramakrishnan said. It helps many components of the body, including muscle cells and mitochondria, the powerhouse of the cell, regenerate.As well as cycling at least six miles a day as he doesn't have a car, Ramakrishnan goes to the gym a few days a week where he does both <a target="_blank" href="https://www.businessinsider.com/strength-training-better-cardio-burning-fat-2023-10">strength training and aerobic exercise</a>."You need to do both cardiovascular exercise and weight-bearing exercise. One for keeping your cardiovascular system healthy, the other for maintaining muscle mass and strength," he said.In a 2022 study published in the <a target="_blank" href="https://bjsm.bmj.com/content/56/22/1277">British Journal of Sports Medicine</a>, based on data from 100,000 US adults with an average age of 71, people who lifted weights and did 150 to 300 minutes of aerobic exercise a week were 41% less likely to die of any cause compared with their sedentary peers.<h2 id="dcd9071a-3a3a-46e3-bcf0-d45c79e7df30">Getting eight hours of sleep per night</h2><div type="image" title="A woman lies in bed asleep." height="3747" width="5615" msid="115079144" hostid="261" sizebytes="248260"></div>Ramakrishnan likes to get eight hours of sleep each night. During the sleep cycle, the body repairs a lot of the wear-and-tear we accumulate from day-to-day life, he said: "It's a way of resetting things and regenerating things."Research suggests that getting enough good quality sleep could add a few years to your life. In a preliminary study presented at the American College of Cardiology's 2023 Annual Scientific Session, researchers identified five measures of quality sleep: Sleeping seven to eight hours a night; having difficulty falling asleep no more than two times a week; trouble staying asleep no more than two times a week; not using any sleep medication; and feeling well rested after waking up at least five days a week.Of the 172,321 people involved in the study, men who reported having all five quality sleep measures were expected to live 4.7 years longer than those who had none or only one. Women with all five lived 2.4 years longer."Sleep is much more important than people have realized," Ramakrishnan said.

A Nobel Prize-winning scientist who wrote a book on aging cycles 6 miles a day at age 72. Here are 3 things he does to stay healthy.

<ul class="summary-list"><li>Immigrants are helping to prop up a strong US economy, Nobel economist Paul Krugman wrote in a New York Times op-ed.</li><li>He argues that their positive labor-market impact hasn't come at the expense of American workers.</li></ul>Immigrants are the secret force driving a surprisingly strong US economy, Nobel laureate Paul Krugman wrote in a recent <a href="https://www.nytimes.com/2024/03/19/opinion/immigration-us-economy.html" target="_blank" rel="noopener">New York Times op-ed</a>.The premise of his argument is a comparison of the current US economy with Congressional Budget Office forecasts made before the pandemic. He finds that both real GDP and employment have exceeded those projections.Krugman notes that the CBO itself has <a href="https://www.businessinsider.com/us-economy-prediction-immigration-population-growth-housing-market-gdp-cbo-2024-2" target="_blank" rel="noopener">attributed economic growth upside to immigration</a>, particularly as it pertains to the labor market. And while more nativist segments of the population might argue this immigrant-driven expansion is coming at the expense of American-born workers, Krugman disagrees.He cites the chart below, which shows that native-born unemployment hasn't increased amid the recent spike in immigration.<div type="image" title="Unemployment rates for foreign-born vs native-born American workers" height="774" width="1170" msid="108684674" hostid="261" sizebytes="21022"></div>"Are immigrants taking jobs away from native-born Americans? No," Krugman wrote.Krugman also poses another question about whether the immigration surge has put downward pressure on wages by increasing the sheer supply of labor. But he also debunks that notion."Many (although not all) academic studies find that immigration has little effect on the wages of native-born workers, even when those workers have similar education levels," he said.Krugman argues that's because immigrants are complements, not substitutes, for the existing American labor force. They bring their own set of skills and knowledge, and they even compete for different kinds of jobs than US workers, he says.He also pointed to data that shows that, even with the influx of foreign-born workers — who he says are probably less educated, especially the undocumented portion — the low-wage end of the American workforce have actually seen changes in their real wages increase.""Immigration appears to have been a <a href="https://www.businessinsider.com/us-economy-prediction-immigration-population-growth-housing-market-gdp-cbo-2024-2">big plus for US economic growth</a>, among other things expanding our productive capacity in a way that reduced the inflationary impact of Biden's spending programs," Krugman wrote.

Immigrants are driving a surprisingly strong US economy, and it hasn't come at the expense of American workers, Nobel laureate Paul Krugman says

<ul class="summary-list"><li>The US economy is in a better-than-Goldilocks state, economist Paul Krugman wrote for The New York Times.</li><li>"We have an economy that is both piping hot (in terms of growth and job creation) and refreshingly cool (in terms of inflation)."</li></ul>Low inflation and blowout job growth have landed the US economy in a better-than-Goldilocks state, creating a dilemma for the Federal Reserve, Nobel economist Paul Krugman wrote in <a href="https://www.nytimes.com/2024/02/01/opinion/biden-trump-economy-goldilocks.html" target="_blank" rel="noopener">The New York Times</a>.353,000 new jobs were added in January, nearly double the expected amount of 185,000, <a href="https://markets.businessinsider.com/news/interestrates/u-s-employment-surges-much-more-than-expected-in-january-1033024957">Friday's jobs report shows</a>. Meanwhile, price growth has steadily cooled, with core inflation actually slightly below the Fed's 2% target, Krugman noted."We have an economy that is both piping hot (in terms of growth and job creation) and refreshingly cool (in terms of inflation)," he outlined. He also <a href="https://www.businessinsider.com/paul-krugman-nobel-laureate-economy-gdp-growth-inflation-goldilocks-scenario-2024-1">cited strength in fourth-quarter GDP</a>, which rose by a better-than-expected 3.3%.This scenario makes interest rate decisions especially challenging. After all, the Fed pursued its aggressive hiking cycle to curb the post-pandemic inflation spike; but having nearly achieved this, the unexpected absence of a recession gives the central bank no obvious reason to start cutting.As Krugman noted: "Powell is clearly wrestling with a dilemma many countries wish they had: What's the right monetary policy when the news is good on just about all fronts?"As of Wednesday's FOMC meeting, central bank authorities chose to keep the federal funds rate steady at a range of 5.25%-5.50%. In his press conference commentary, Powell pushed back on stock market hopes that <a href="https://www.businessinsider.com/first-fed-interest-rate-cut-outlook-inflation-bank-of-america-2024-2">cuts could happen in March</a>, citing that the Fed needs more confidence in inflation's trajectory.But in Krugman's opinion, the risk of a slowdown should outweigh fears of an inflation resurgence, and it's best that the Fed starts cutting sooner rather than later. Following Powell's commentary, analysts have looked to May as the potential start to the Fed's pivot. But the stellar jobs report puts even this timeline in question, Bankrate's Mark Hamrick said, <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-fed-rates-jobs-data-bond-yields-2024-2?_gl=1*1jfr1i0*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcwNjg4MzkyOS44MC4xLjE3MDY4ODQ1ODQuNjAuMC4w">in reaction</a> to the report.Others still believe that cuts will come sooner rather than later. Fundstrat's Tom Lee remains <a href="https://www.businessinsider.com/fed-rates-forecast-march-cuts-us-economy-powell-comments-meeting-2024-2">confident of a March turnaround</a>, citing that Powell generally indicated a readiness to start slashing rates.

The Fed faces a big challenge in cutting interest rates with the economy roaring, Nobel laureate Paul Krugman says

<ul class="summary-list"><li>Immigration provides a huge boost to the economy, according to Paul Krugman.</li><li>Claims that immigrants are taking jobs from Americans aren't supported by facts, he said.</li></ul>Immigration isn't taking jobs away from Americans — and it's actually great for the US economy, according to Nobel laureate Paul Krugman.In an op-ed for The <a target="_blank" class="" href="https://www.nytimes.com/2024/07/23/opinion/immigration-unemployment-inflation.html">New York Times</a>, the top economist pointed to economic arguments against immigration, with former President <a target="_blank" class="" href="https://www.businessinsider.com/immigration-border-security-biden-trump-2024-election">Trump claiming that immigrants</a> have been taking job gains away from native-born Americans in recent years.However, Krugman said the data don't support that argument, as the unemployment rate for <a target="_blank" href="https://fred.stlouisfed.org/series/LNU04073413">US-born workers</a> has remained near a historical low of 4.3%, according to Federal Reserve data.<div type="image" title="Graph showing unemployment rate among native-born American workers" height="450" width="538" msid="111994541" hostid="261" sizebytes="8034"></div>The labor force participation rate among native-born workers has been on the decline, but among prime-age native-born workers, the labor force participation rate has actually been rising, Fed data shows. That's a solid sign that the stagnation among US workers is largely because of the <a target="_blank" class="" href="https://www.businessinsider.com/how-retirement-of-peak-boomers-could-affect-economy-social-security-2024-4">wave of boomers retiring</a>, Krugman said."So the near stagnation of native-born employment isn't a demand-side issue, in which people aren't working because they can't find jobs. It is instead a supply-side issue, in which people aren't working because they've reached retirement age. We've been able to achieve large increases in overall employment only because working-age immigrants have been coming to America. If we didn't have the <a target="_blank" class="" href="https://www.businessinsider.com/immigrants-boost-us-economy-housing-shortage-hurts-growth-nyc-2024-5">immigrants</a>, we wouldn't have the jobs," Krugman wrote.There's also evidence that immigration has helped push wages up, as immigrants do not ultimately compete with US workers for the same jobs. <a target="_blank" href="https://www.businessinsider.com/wages-outpace-inflation-consumer-sentiment-high-prices-2024-7">Wages among all workers have shot up 25%</a> since 2020, around the time the employment of foreign-born workers in the US began rising.<div type="image" title="Graph showing employment of foreign-born workers" height="450" width="538" msid="111994542" hostid="261" sizebytes="10672"></div>Immigration could also be helping the Fed keep a lid on inflation, Krugman said."Immigrants expand supply, but they also contribute to demand. In the aftermath of the pandemic, however, the huge sums spent on aid pumped up demand; this burst of demand was easier to accommodate without sustained inflation because immigration made it possible to achieve rapid growth in employment," he added.Other <a target="_blank" class="" href="https://www.businessinsider.com/immigration-us-economic-outlook-americans-worker-labor-impact-paul-krugman-2024-3">economists</a> and <a target="_blank" class="" href="https://www.businessinsider.com/immigration-us-economy-outlook-impact-gdp-growth-labor-force-market-2024-3">strategists</a> on Wall Street have said <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-outlook-ai-immigration-rich-people-will-prevent-recession-2024-7">immigration could end up being a big boost to the economy</a>. Rising immigration could help the US grow another $7 trillion over the next 10 years, according to a recent projection from the <a target="_blank" class="" href="https://archive.is/Q6f1n/again?url=https://www.nytimes.com/2024/06/24/business/commercial-real-estate-loans.html">Congressional Budget Office</a>."So, no, immigrants aren't taking our jobs. Everything that happens in the economy hurts someone: There are no doubt some places where immigrants have driven up housing costs, or where native-born Americans or legal immigrants have faced increased job competition. But the scare stories don't match the facts," Krugman said.

Why immigration is boosting the US economy, according to Nobel economist Paul Krugman

<ul><li>Goldin is acclaimed for her research in the gender pay gap for over 200 years, and the reasons that contributed to this anomaly.</li><li>She also explains the role of contraceptive pills in expanding career and educational choices, especially in the fields of economics, law and medicine.</li><li>Her contribution to economics has a far reaching impact on the lives of everyday men and women. </li></ul>Winning a Nobel Memorial prize in Economics is an extraordinary feat in itself but <keyword id="2748976" type="General" weightage="20" keywordseo="claudia-goldin" source="Orion">Claudia Goldin</keyword>’s accomplishment has significance far beyond the hallowed world of academia. A labour economist and economic historian, she was the first female researcher to be tenured in Harvard University’s economics department and only the third female recipient of the Nobel Prize in this field. She was announced as the 2023 winner for advancing “our understanding of women’s labour-market outcomes”. In an era when diversity is top priority for corporations across the globe, this Nobel Prize could not have come at a better time. Goldin’s research explores the patterns of female market participation and the reasons behind the gender wage gap using data concerning the last 200 years. She showed that female participation forms a U-Shaped Curve. Participation decreased in the transition of society from an agrarian one to an industrial one as it was difficult for women to leave their homes to work in factories and began to increase in the early 20th century with the growth of the service sector. Goldin’s research also talks about the role of contraceptive pills in expanding career and educational choices, especially in the fields of economics, law and medicine. This enabled a change in women’s attitudes towards employment and education as they began to see jobs as an important part of their identity. She described this as a ‘quiet revolution’. <div type="image" title="women at work" msid="104652867" hostid="261" sizebytes="45736" caption="&amp;lt;p&amp;gt;Source: Pixabay&amp;lt;/p&amp;gt;"></div> Despite the rise in the levels of employed and educated women, there continues to be a significant earnings gap between men and women. Goldin primarily attributes this gap to the impact of a woman’s first child or the motherhood penalty. However, she has also studied the role of the’ greedy work’ phenomenon wherein jobs pay those who work longer hours disproportionately more per hour putting women who require more flexible hours at a disadvantage. The topic of flexible work hours has particular relevance post the pandemic with many workplaces offering hybrid setups. She also noted that a female's educational choices, which are made at a relatively young age, are influenced by the experiences of females of previous generations. The Nobel committee described her work as the ‘first comprehensive account of women’s earnings and labour market participation through the centuries’. Her insights and emphasis on women were path-breaking as women have historically been side-lined in the labor market. <keyword id="19241453" type="General" weightage="50" keywordseo="jakob-svensson" source="Orion">Jakob Svensson</keyword>, Chair of the Committee for the Prize in Economic Sciences, stated, “Thanks to Claudia Goldin’s ground-breaking research we now know much more about the underlying factors and which barriers may need to be addressed in the future.” Interestingly, Golden only discovered her passion for economics in the second year of her undergraduate degree at <keyword id="31781" type="General" weightage="50" keywordseo="cornell-university" source="Orion">Cornell University</keyword>. After earning a BA in economics, she obtained a PhD in industrial organization and labour economics from the <keyword id="142498" type="General" weightage="50" keywordseo="university-of-chicago" source="Orion">University of Chicago</keyword>. She started the Undergraduate Women in Economics Program in 2014, an endeavour to encourage more female economics majors. Her contribution to economics has a far reaching impact on the lives of everyday men and women.

Ever wondered why women get a raw deal at work? Nobel Laureate Claudia Goldin has all the answers

<ul class="summary-list"><li>Paul Krugman believes the outlook for the US economy is better than a "Goldilocks" scenario.</li><li>"We have an economy that is both satisfyingly hot and refreshingly cold," he said Thursday.</li></ul>The US economy isn't just headed for a so-called <a href="https://www.businessinsider.com/personal-finance/goldilocks-economy">"Goldilocks" scenario</a> – things are looking even better than that, according to Paul Krugman."This is not a Goldilocks economy," the Nobel Prize-winning economist wrote <a href="https://twitter.com/paulkrugman/status/1750570546964676786" target="_blank" rel="noopener">on X</a> Thursday, referring to a situation where growth, inflation, and unemployment are all at levels that look "just right"."Goldilocks found a bowl of porridge that was neither too hot nor too cold," he added. "We have an economy that is both satisfyingly hot (GDP) and refreshingly cold (inflation)."Krugman's comments came after data published by the Bureau of Economic Analysis Thursday showed that the US's real Gross Domestic Product (GDP) <a href="https://www.businessinsider.com/recession-outlook-economy-gdp-fourth-quarter-of-2023-2024-1">expanded 3.3%</a> over the final quarter of 2024, blowing past forecasters' 2% target.Meanwhile, inflation has cooled from four-decade highs to just <a href="https://www.businessinsider.com/inflation-up-how-consumer-price-index-looked-december-2024-1">3.4% as of December</a>, while the unemployment rate is still hovering below 4% despite the Federal Reserve aggressively raising interest rates in a bid to clamp down on soaring prices.Krugman has tended to take a cheery view on the economy in recent years, repeatedly championing efforts by <a href="https://markets.businessinsider.com/news/stocks/paul-krugman-bidenomics-us-economy-inflation-recession-joe-biden-president-2023-6">Joe Biden and the central bank</a> to bring inflation down to 2%.Others on Wall Street have shared gloomier outlooks, though.JPMorgan Chase CEO <a href="https://markets.businessinsider.com/news/currencies/jamie-dimon-jpmorgan-bitcoin-crypto-recession-inflation-fed-rate-cuts-2024-1">Jamie Dimon</a> said earlier this month that he's still "a little skeptical of the <a href="https://www.businessinsider.com/personal-finance/goldilocks-economy">Goldilocks scenario</a>"."I still think the chance of it not being a soft landing are higher than other people," the billionaire banker told <a href="https://www.youtube.com/watch?v=ynKTVv7EoMc" target="_blank" rel="noopener">Fox Business</a>. "It's not terrible. It might be a mild recession or a heavy recession."Top economists like Steve Hanke and David Rosenberg have also flagged the possibility that the US suffers a severe slump in growth. Hanke said this week that he believes a recession will soon "<a href="https://markets.businessinsider.com/news/stocks/steve-hanke-stocks-economy-outlook-recession-inflation-forecast-fed-money-2024-1">start to bite</a>", while Rosenberg warned in August that it'd take a "<a href="https://www.businessinsider.com/recession-forecast-economy-crash-markets-rosenberg-research-fed-jobs-labor-2023-9">miracle</a>" to avoid a downturn.

Nobel laureate Paul Krugman says this isn't a 'Goldilocks' economy – it's even better, thanks to strong growth and cooling inflation

<ul class="summary-list"><li>Paul Krugman praised the US economy, citing a remarkable pullback in the so-called 'misery index.'</li><li>US inflation has started to cool in recent months, while the labor market still looks resilient.</li></ul>The falling "<a href="https://www.investopedia.com/terms/m/miseryindex.asp#:~:text=The%20misery%20index%2C%20created%20by,and%20the%20annual%20inflation%20rate." target="_blank" rel="noopener">misery index</a>" is another sign that President Joe Biden has succeeded in reviving the US economy, top economist Paul Krugman said Monday.The Nobel laureate once again praised Biden's track record, citing the fact that the index – an economic indicator that measures both inflation and unemployment – has fallen to the level it was at when Biden took office in January 2021."The plunge in the misery index reflects both what didn't happen and what did," Krugman wrote in a <a href="https://www.nytimes.com/2023/07/03/opinion/biden-economy-inflation-unemployment.html">New York Times op-ed</a>. "What didn't happen, despite a drumbeat of dire warnings in the news media, was a recession. The U.S. economy added four million jobs over the past year, and the unemployment rate has remained near a 50-year low.""What did happen was a rapid decline in inflation," he added.The misery index, created in the 1970s by Lyndon B. Johnson's policy advisor Arthur Okun, gauges the strength of the economy by adding up the inflation and unemployment rates.The economic indicator climbed as prices soared in 2021 and 2022, but has fallen over the past year in what Krugman called a "remarkable turnaround".<a href="https://www.businessinsider.com/consumer-price-index-inflation-federal-reserve-interest-rates-may-2023-6?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">US inflation has started to cool in recent months</a>, falling from its mid-2022 highs of over 9% to just 4% in May.Meanwhile, the labor market has remained resilient in the face of the Federal Reserve's aggressive interest-rate hikes, with the <a href="https://www.businessinsider.com/unemployment-rate-labor-market-job-growth-may-jobs-report-2023-5?utm_medium=ingest&amp;utm_source=markets">US economy adding 339,000 jobs in May</a> and unemployment holding steady at 3.7%."By most measures the economy is doing quite well," Krugman wrote.The Nobel laureate has been optimistic about the US economy recently and said last month that <a href="https://markets.businessinsider.com/news/stocks/paul-krugman-inflation-falling-no-sign-us-recession-2023-6?utm_medium=ingest&amp;utm_source=markets">he doesn't think a recession will come</a>, even though America's <a href="https://www.businessinsider.com/gdp-gross-domestic-product-q1-2023-us-economic-growth-2023-4#:~:text=US%20GDP%20climbed%20at%20an,2022%2C%20which%20was%202.6%25.?utm_medium=ingest&amp;utm_source=markets">GDP growth shrank to just 1.1%</a> last quarter.He has also repeatedly praised <a href="https://markets.businessinsider.com/news/stocks/paul-krugman-bidenomics-us-economy-inflation-recession-joe-biden-president-2023-6?utm_medium=ingest&amp;utm_source=markets">Biden's economic track record</a>, noting that inflation has fallen much faster in the US than in other western countries.

You Searched For "nobel laureate" and got 10 results

Nobel Prize in Chemistry 2024 shared by David Baker, Demis Hassabis, John M Jumper for work on protein

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Love ChatGPT and Alexa? This year’s Physics Nobel Prize has been awarded to two scientists who made these AI technologies possible

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3 US-based academics awarded the Nobel Prize in economics for their work on wealth inequality

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A Nobel Prize-winning scientist who wrote a book on aging cycles 6 miles a day at age 72. Here are 3 things he does to stay healthy.

Kim Schewitz

Immigrants are driving a surprisingly strong US economy, and it hasn't come at the expense of American workers, Nobel laureate Paul Krugman says

Aruni Soni

The Fed faces a big challenge in cutting interest rates with the economy roaring, Nobel laureate Paul Krugman says

Filip De Mott

Why immigration is boosting the US economy, according to Nobel economist Paul Krugman

Jennifer Sor

Ever wondered why women get a raw deal at work? Nobel Laureate Claudia Goldin has all the answers

Ananya Tawakley

Nobel laureate Paul Krugman says this isn't a 'Goldilocks' economy – it's even better, thanks to strong growth and cooling inflation

George Glover

Nobel laureate Paul Krugman cites the 'misery index' as proof of the US's economic strength

Zinya Salfiti

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