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What is a budget?

Deputy dean for faculty and research, Michelle Hanlon said:  "Do not try to keep up with your friends and neighbors in terms of spending. Some of them might be deep in debt! Stay focused and live within your own budget."

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Don't dismantle America's audit regulator—it's a strategic asset against China

Professor Nemit Shroff and co-author wrote: "Tucked into the latest House reconciliation bill is a stealth proposal to eliminate the Public Company Accounting Oversight Board and fold its work into the Securities and Exchange Commission. It may sound at first like bureaucratic belt-tightening. In reality, it's a strategic blunder that could weaken American oversight in China, compromise financial transparency, and undercut the United States's global leadership position."

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Barb Wixom and MIT CISR on managing data like a product

In a recent research brief, principal research scientist Barbara Wixom, research scientist Nick van der Meulen, and co-author emphasized the importance of distinguishing between two types of data products: Data assets and data solutions. While both types require a product management mindset their performance metrics differ. "Asset owners think in terms of reuse and internal market development," says Wixom. "Solution owners think about cost, margin and actual dollar value."

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Can America dodge a tariff bullet?

Senior lecturer Robert C. Pozen and co-author wrote: "Whatever the outcome of the court battles, Americans should hope that the tariff madness ends. While the lower temporary tariffs weren't as bad as those originally threatened on 'Liberation Day,' they nevertheless would produce significant adverse effects—higher consumer prices, lower business investment and lower economic growth."

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A short guide to salary negotiations

Negotiating comes more naturally to some than others. A recent study by associate professor Jackson Lu found that MBA graduates of East Asian and South-East Asian ethnicity had markedly lower salaries than South Asians and whites. The propensity to negotiate among different groups explains the gap; East Asians and South-East Asians who did not try to negotiate were more likely to say they were concerned about damaging the relationship with an employer.

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Nobel laureate busts the AI hype

Institute Professor Daron Acemoglu challenges the AI revolution narrative with surprising data: AI will likely automate just 5% of tasks and add only 1% to global GDP this decade. And where the internet's potential was clear early on, AI's is not, and the technology has yet to deliver applications that can transform production or create valuable new services.

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Budget bill would add trillions to U.S. debt and increase inequality, Nobel laureate economists say

In an open letter, Institute Professor Daron Acemoglu, professor Simon Johnson, and co-authors said a massive budget bill passed by House lawmakers last month would weaken key safety-net programs while greatly lifting the federal debt. "The combination of cuts to key safety net programs like Medicaid and SNAP and tax cuts disproportionately benefiting higher-income households means that the House budget constitutes an extremely large upward redistribution of income," they wrote.

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