Thought Leadership

The Tragedy of the Commonsense Morality

And What We Can Do About It Writing about the climate challenge, French economist Jean Tirole frames the problem brilliantly: “The benefits of reducing climate change remain global and distant in time, while the costs of that reduction are local and immediate.” (Economics for the Common Good, p. 199) Why would any country take costly… Read more >

What Does Winning Look Like Today?

When I was an economics professor (which was a long time ago), I often invited students in introductory classes to play a simple game. They were instructed to choose “Heads” or “Tails” and secretly write their choice on a sticky note, while I randomly sorted the class into pairs. If the choices made by any… Read more >

The Future of Globalization May be Uncertain. The Need for Innovation is Not

Over the past few decades, globalization—the closer integration of countries and peoples—has been a powerful engine of economic growth, improving global health and lifting millions out of poverty, as well as increasing efficiency. Expanding cross-border collaborations and knowledge exchanges have empowered countries to address critical societal issues. However, globalization has also been blamed for widening… Read more >

Finding Truth in an AI World: The Power of Human Connection

In the car, halfway to school, my son lifted his eyes from the phone long enough to say, “Did you know, in Japan, workers who get to the office early park farther away, leaving the closer spots for others that come later?” I didn’t know. And, because I’m never quite sure where my son gets… Read more >

Is More Information Better?

It is a good idea to collect data about the outcomes of heart surgeries and make it available to the public. Report cards help patients find the best hospitals and doctors, while the providers have an incentive to improve quality. Makes perfect sense, doesn’t it. Well, in a paper I read a little more than… Read more >

From Curriculum to Community: Expanding the Influence of Business Schools

“You can’t stop technological change, but you can shape it.” That is the key message of Power and Progress according to its authors, Daron Acemoglu and Simon Johnson. After researching 1,000 years of technological change, the authors conclude that, contrary to widespread “techno-optimism,” advances in technology do not automatically translate into broad-based prosperity. If we… Read more >