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Time of India
8 hours ago
- Business
- Time of India
David Cutler educational qualification: How Harvard and MIT paved this economist's way to the front lines of US health reforms
In a world of think-tank resumes and siloed expertise, David Cutler has carved a career that defies academic convention. He's not just one of the most respected health economists in the US—he's a builder of policy, an architect of reform, and, as of 2025, the interim dean of Social Sciences at Harvard University. Cutler stepped into the role in June 2025, following the departure of longtime dean Lawrence Bobo. It's not his first time leading the division—he held the same position from 2003 to 2008—but this time, the stakes are even higher. With AI transforming the workforce, inequality growing deeper, and public trust in institutions at a breaking point, the social sciences need a leader who understands both the data and the urgency. Enter David Cutler. But before he was dean, before the policy papers and the White House briefings, Cutler was just another Harvard student with big questions—and a growing belief that economics could be more than charts and models. It could be a tool for change. An Ivy League start, but not a predictable path Cutler's academic journey began at Harvard College, where he graduated summa cum laude in economics. It was a start that promised prestige—but he didn't chase Wall Street. Instead, he pursued the deeper question: How do you build an economic system that works for people, not just profit? He earned his Ph.D. in economics from MIT in 1991, solidifying his reputation as one of the top young minds in the field. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo But rather than disappearing into academic theory, he doubled down on public impact. From classrooms to cabinet rooms After earning his Ph.D., Cutler returned to Harvard — this time as a professor. Over the years, he took on roles that most academics only dream about. He became the Otto Eckstein Professor of Applied Economics, held joint appointments across Harvard's Economics Department, the Kennedy School, and the School of Public Health, and served as Dean of the Social Sciences Division — not once, but twice, most recently stepping back into the role in 2025 after Lawrence Bobo's departure. Yet for all his campus credentials, Cutler's impact stretches far beyond Cambridge. He was a key advisor in the Clinton administration, shaping national economic strategy, and later served as Senior Health Care Advisor to Barack Obama, helping craft ideas that would shape the Affordable Care Act. Where most economists publish papers, Cutler drafted policy. Where many stayed in theory, he moved into action. Rewriting the system Cutler's influence didn't just come from policy memos — it came from publishing work that made complex problems readable, solvable, and deeply human. His 2004 book Your Money or Your Life was one of the first to frame U.S. health care not just as broken, but fixable — if only we focused on quality instead of cost-cutting. The book was later profiled in a New York Times Magazine feature, The Quality Cure , making Cutler one of the rare economists whose ideas actually reached the public. He followed that up with The Quality Cure in 2014 and, more recently, Survival of the City (co-authored with Edward Glaeser), a deep dive into how cities must adapt to pandemics and inequality in a time of climate change and isolation. But even his most technical work — like his 2003 study on the economics of obesity — has always centered people, not just numbers. He argued that America's weight crisis wasn't a moral failing but a market distortion, where frozen pizza and soda were made cheaper and easier than healthy alternatives. Cutler's classroom is everywhere What sets Cutler apart isn't just the brilliance of his models or the reach of his appointments. It's his ability to teach — to make complicated economic systems understandable, and to make students believe they can change them. Honored as a Harvard College Professor for his excellence in undergraduate teaching, Cutler's legacy includes not just laws and legislation but generations of students who now lead in health, economics, and public policy. He's also a Research Associate at the National Bureau of Economic Research, a member of the National Academy of Medicine, and a commissioner on the Massachusetts Health Policy Commission, where he continues to push for smarter, more equitable care. Educated to reform, not just report David Cutler's education wasn't just about credentials — it was a launchpad for reimagining what economics could be. He didn't stop at diagnosing the dysfunction in U.S. health care — he helped design the blueprints for reform. And he did it not by shouting from the sidelines but by writing the playbook from within. At a time when the public is more skeptical than ever of elite institutions, Cutler is a reminder that the right kind of expertise — grounded, public-minded, relentlessly curious — still matters. He didn't just attend Harvard. He built Harvard's next chapter. And now, as he once again leads the university's social sciences division, he's not just looking backward at his own education — he's shaping the future of what education, and economics, can do for society. Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
Yahoo
02-04-2025
- Business
- Yahoo
24-year-old eats a 65-cent breakfast every day, skips salon visits and has saved $90K—she's part of Gen Z's FIRE movement and plans to retire by 40
Gen Z and young millennials may have a bad reputation for wasting money on avocado toasts, designer bags and luxury holidays—but there's a small but growing pool of young people saving away and hoping to retire by 40. They're part of the FIRE movement. It's no secret that Gen Z and young millennials have fallen out of love with the idea of hustling five days a week until they're in their late 60s. Now, thousands are sharing how they're living frugally to be able to quit their jobs and retire decades early. 'I eat a 50p ($0.65) breakfast every day so I can retire by 40,' Mia McGrath shares what she spends in a day with her 106,000 TikTok followers—adding that usually, she starts the day with humble eggs. The Gen Z influencer who works full-time by day in account management, outlines how she opts out of expensive habits like grabbing coffee to go and monthly manicures, favoring DIYing as much as possible to bring costs down. While many white-collar workers brush off forking out daily for sandwiches or salads as an associated cost of working in an office, as "a financially responsible 24-year-old who is trying to spend as little as possible", McGrath sticks to leftovers instead. 'You won't see me buying a £15 ($19.40) salad,' she adds. McGrath is part of the FIRE movement—that is, 'financially independent, retire early.' Essentially, by being disciplined with her dictionary spending in her 20s and 30s, the Gen Zer can max out the amount of money she invests each month and benefit early from compounding interest. 'My goal is to soft retire, and that's to have the freedom to support myself while working less,' McGrath explains in another video, while adding that she's 'on a journey to retiring early'. 'It means hustling extra hard in my 20s and cutting back on things like daily coffees and getting my nails done, but it also means that at 45 I won't have to ask my boss for a random Wednesday off.' Already, McGrath saved £70,000 ($90,000)—and she says her 'FIRE number,' the amount she needs to save to live off her passive incomes is £1.25 million. FIRE isn't a new concept, with many pointing to the 1992 book Your Money or Your Life as the inspiration behind the trend. But as young people increasingly struggle to get by, it's making them want to take control of their finances and fuelling renewed interest in the FIRE movement. Previous research from Credit Karma shows that the majority of Gen Z describe traditional 9-to-5's as 'soul-sucking'—and they're embracing a penny-pinching lifestyle to turn that dream of escaping the conventional grind into a reality. For the majority (43%), this looks like cutting back on nonessential spending like shopping and dining out. Over a third of respondents said they'd even work odd jobs to make ends meet—otherwise known as polyworking. Although various attempts have been made to raise the full retirement age to 70, another study highlights that less than 2% of Gen Z and millennials predict retiring after their 70th birthday. 'I tell people I want to retire at 40, they laugh, but I have a plan,' a young New Zealander who goes by @girlsthatinvest echoes on TikTok, adding that she already has over $1 million invested and plans to live off $50,000 a year from the interest. 'I know not everyone is lucky enough as me to have begun investing so young, but the truth is, you can start now, and you do not have to wait till 65 to retire. You can get there at 50, at 45—maybe even sooner. But it really pays to get started.' 'At 25, I was earning $83,000 and managed to invest $12,326,' shared another TikToker. Using the #FireMovement hashtag—which now boasts over 6,000 posts—she detailed how she grew her investments to an impressive $350,000 by age 29. While most are sharing how they plan to retire early, one content creator in the U.S. goes one step further and says she's already done it at just 25 years old. According to her TikTok channel and coaching website, @cherrytung ditched the rat race in 2021 and is now living off various passive incomes. Nearly 50,000 people are taking her word for it and following the investment advice on her page. Indeed, it may eventually turn out that Gen Z's early retirement plans are unrealistic. After all, many boomers are being forced to unretire after realizing that the cost of living is now much higher than they'd planned for. But it's never too soon to start retirement planning. The renowned financial expert Suze Orman previously echoed that Gen Z and millennials could indeed retire as millionaires if they make the most of compound growth. Depositing a monthly investment of $100 into an account with a 12% yield would net someone approximately $1,188,342 in 40 years' time. But the longer you delay your investment journey, the lower the accumulated amount of money will be. A millennial who started their investment journey just five years later, at age 30, would accumulate around $649,626 by age 65. While many analysts peg the historical annual rate of return after inflation to be 6-7%, Orman says a 12% annual average rate of return, which would make a Gen Z worker a millionaire before the age of retirement, is a conservative percentage. She estimates that with smart investing you could get up to a 25% rate of return on your money. 'You want to play and have fun, that's on you later on in life when you can't pay your bills,' she warned. 'If there's anything the younger generation needs to understand, it's that the key ingredient to any financial freedom recipe is compounding.' Are you aggressively saving so that you can retire early? Fortune wants to hear from you: This story was originally featured on Sign in to access your portfolio
