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  • 601. King Dollar: The Enduring Dominance of the US Currency feat. Paul Blustein

    601. King Dollar: The Enduring Dominance of the US Currency feat. Paul Blustein
    2025/11/27
    How did the US Dollar become the dominant currency internationally? What keeps other currencies, fiat or crypto, from displacing the dollar's role? Does the aggressive use of sanctions by the US Government put the dollar's role at risk?Paul Blustein is with the Center for Strategic and International Studies, as well as an author and journalist. He has written several books including his latest work King Dollar: The Past and Future of the World's Dominant Currency and previous works, Off Balance: The Travails of Institutions That Govern the Global Financial System, And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina, and Laid Low: Inside the Crisis That Overwhelmed Europe and the IMF.Greg and Paul discuss the reasons behind the US dollar's dominance in global finance, its historical roots stemming from the Bretton Woods Agreement, and the challenges posed by international crises and economic policies. Paul also discusses the role and limitations of the IMF, the geopolitical implications of using the dollar as a financial weapon, and the potential impact of emerging currencies and digital threats. The episode concludes with insights into the phenomena of dollarization and how various economic strategies, including those of China and Russia, intersect with the enduring power of the US dollar.*unSILOed Podcast is produced by University FM.*Episode Quotes:How the U.S. discovered the power of financial sanctions21:00: No longer was it just going to be the drug lords and, you know, in Colombia and places like that, it was now the government was gonna crack down on terrorists. And so the Treasury, OFAC, the Office of Foreign Assets Control, began doing some of that. And they realized that by cutting off banks abroad from access to the dollar system, that correspondent banking system we were just talking about, that, you know, things could really go boom. They could pose a death sentence on banks. And as they began to realize the power of that, they then applied it in the case of North Korea in 2005. And they were absolutely astonished to discover that this really worked. You could really have a big effect on North Korea's financial system by cutting off banks. It was—they went after a bank in Macau that had been—and then they were off to the races. They could use this similar kind of weaponry on Iran and other adversariesResponsible vs irresponsible use of dollar power25:29: You have this power with a dollar; if we use it responsibly, it can be a very good power. And if we use it irresponsibly, it's a bad power. And that's the way I like to look at it.How U.S.–China sanction scenarios are actually gamed out51:59: Some of the hawks in, you know, you don't hear so much from these guys anymore, but the hawks in Congress have tried to game some of these out. You know, I go into this in one of the chapters of the book about how they, you know, they had a red team and a blue team, and they thought, well, we can, you know, we just have done this—imposed drastic sanctions on Russia. So if there's an invasion of Taiwan, here's what we do. And they, I think, have discovered that if you have a really knowledgeable red team playing the Chinese Communist Party, they can come up with a lot, a lot of things that, it preserves Taiwanese democracy but doesn't have us at each other's throats.Show Links:Recommended Resources:United States DollarEuroRenminbiReserve CurrencyNetwork EffectBretton Woods SystemJohn Maynard KeynesHarry Dexter WhiteHerbert SteinFederal ReserveInternational Monetary Fund (IMF)SWIFTEuroclearFiat MoneyXi JinpingShadow FleetGuest Profile:PaulBlustein.comProfessional Profile for CSISLinkedIn ProfileSocial Profile on XGuest Work:Amazon Author PageKing Dollar: The Past and Future of the World's Dominant CurrencyOff Balance: The Travails of Institutions That Govern the Global Financial SystemAnd the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of ArgentinaThe Chastening: Inside The Crisis That Rocked The Global Financial System And Humbled The IMFMisadventures of the Most Favored Nations: Clashing Egos, Inflated Ambitions, and the Great Shambles of the World Trade SystemLaid Low: Inside the Crisis That Overwhelmed Europe and the IMFSchism: China, America, and the Fracturing of the Global Trading System Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    52 分
  • 600. The Intersection of Business Theory and Practice feat. Jay Barney

    600. The Intersection of Business Theory and Practice feat. Jay Barney
    2025/11/24
    Unlike some other academic fields, the study of business has always had the challenging task of striking a balance between theory and practice. How can theoretical concepts aid business practitioners in real-world situations? And how can business academics expand their understanding of theory through that real-world application? Jay Barney is a professor of strategic management at the University of Utah David Eccles School of Business. His work, including numerous books, journal articles, and textbooks, has shaped the field of strategy and entrepreneurship for decades. His most recent book is The Secret of Culture Change: How to Build Authentic Stories That Transform Your Organization.Jay and Greg discuss the evolving role of academia in the business world, the historical and current perceptions of business education, and the various theories that underpin strategic management. Barney delves into resource-based theory, the importance of organizational culture, and the intersection of strategy and practical business applications. *unSILOed Podcast is produced by University FM.*Episode Quotes:What really makes a strategy hard to imitate44:56: You're going to have a strategy that's likely to be a source of sustained advantage; you have to figure out how that leverages resources, or capabilities that are socially complex. Why? Because that's harder to imitate, stuff that's developed over long periods of time. That's path dependent. Why? Because that's hard to imitate, or stuff that's costly and ambiguous. Well, you don't know how to develop those capabilities because that makes it hard to imitate. And I can make some empirical predictions that socially complex resources and capabilities should last longer. As long as their value is retained, they should last longer than non–socially complex.Why entrepreneurship is so hard to theorize39:22: Entrepreneurship, one reason that it's under-theorized as a field is because the theory is really hard, because many of the assumptions and attributes that make it possible to theorize in non-entrepreneurial settings do not apply in entrepreneurial settings. And so then we're stuck with this Knightian uncertainty and difficulties associated with that.How strategy escapes the tautology problem46:25: I think that we can avoid the tautology problem by identifying the characteristics that resources and capabilities need to have in order to be sources of sustained advantage. And then, then empirical predictions come out of that. But they do not come out of the tautology, but by definition.Show Links:Recommended Resources:Jay Barney “The Lessons They Didn’t Teach You in Business School” | unSILOed Modigliani-Miller TheoremHawthorne EffectNicholas Bloom (podcast)Michael PorterDavid Teece (podcast)William H. MecklingMichael C. JensenJensen and Meckling article 76 JFEGuest Profile:Faculty Profile at University of UtahProfessional Profile on LinkedInWebsiteGuest Work:The Secret of Culture Change: How to Build Authentic Stories That Transform Your OrganizationWhat I Didn't Learn in Business School: How Strategy Works in the Real WorldOrganizational Economics: Toward a New Paradigm for Understanding and Studying OrganizationsJay Barney | Google Scholar Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    1 時間 4 分
  • 599. Why Authenticity Might Not Be the Answer feat. Tomas Chamorro-Premuzic

    599. Why Authenticity Might Not Be the Answer feat. Tomas Chamorro-Premuzic
    2025/11/20
    Why might ‘bring your whole self to work’ be terrible professional advice, and what should we be thinking about instead? Why does authenticity come into play more now than in previous generations? Tomas Chamorro-Premuzic is a professor of business psychology at University College London and Columbia. He is also the author of several books, including Don't Be Yourself: Why Authenticity Is Overrated (and What to Do Instead), Why Do So Many Incompetent Men Become Leaders?: (And How to Fix It), and The Talent Delusion: Why Data, Not Intuition, Is the Key to Unlocking Human Potential, I, Human: AI, Automation, and the Quest to Reclaim What Makes Us Unique.Greg and Tomas discuss the overemphasis of authenticity in professional and personal settings, the nuanced insights from sociologist Erving Goffman on impression management, and how emotional intelligence often aligns with strategic impression management. Their conversation gets into the impact of AI on human potential and workplace dynamics, as well as the complex interplay between organizational culture and individual behavior, particularly among leaders. *unSILOed Podcast is produced by University FM.*Episode Quotes:Why do people believe authenticity naturally leads to wellbeing and success?03:08: In a world that is obviously not very authentic, pretending that we value authenticity or encouraging people to just be themselves might be quite fitting. I think it's not very authentic advice to tell people, "Oh, just be yourself. Oh, just bring your whole self to work. Oh, don't worry about what people think of you." But then, if somebody is silly or naive enough to follow that advice, the repercussions for them are not very positive.Self-awareness requires paying attention to others13:33: Professional success and personal development and self-awareness can only be achieved if you are receptive to what other people think of you. So, by the way, as I say in the book [DON’T BE YOURSELF], the notion that, I mean, you know, one of the mantras of authenticity or to authenticity advice, which is "ignore what people tell you," ironically, the advice is trying to tell us how to behave, right? So you cannot ignore what people tell you. And the difference between somebody who has achieved basic emotional maturity and psychological maturity and somebody who still behaves like a child is that the psychologically mature person pays attention to what other people think of themselves, which doesn't mean being a sort of weak, feeble, conformist sheep. It means being a highly functioning member of society, of work, of community, not being trapped in your own narcissistic delusion.How do you achieve self-awareness?12:20: Self-awareness is actually achieved by internalizing the feedback from others from a very, very early age. We learn about ourselves from internalizing or incorporating the feedback we get from others. So your teachers, your aunt, your uncle, your parents, your older siblings, your friends will tell you, you are good at this, you are bad at that, you are funny. And then you understand that you are funny, right? It's obviously problematic if they're lying to you and then you realize, Ooh, outside my family, nobody laughs with my jokes, right? But there's no answer to who we really are. But the best way to understand who we are in the eyes of others is to not be self-centered and to actually be open to feedback. And that's something that people with high emotional intelligence do very well. Show Links:Recommended Resources:Erving GoffmanCore Self-EvaluationsEmotional LaborEmotional IntelligenceSelf-MonitoringElon MuskDavid Bowie360-degree feedbackCharles Horton CooleyDale CarnegieHenry FordJeffrey PfefferPope FrancisRobert HoganMachiavellianismMax PlanckAmos TverskyDaniel KahnemanJohn Maynard KeynesGuest Profile:Faculty Profile at University College LondonWebsite | DrTomas.comLinkedIn ProfileWikipedia PageSocial Profile on XGuest Work:Amazon Author PageDon't Be Yourself: Why Authenticity Is Overrated (and What to Do Instead)Why Do So Many Incompetent Men Become Leaders?: (And How to Fix It)The Talent Delusion: Why Data, Not Intuition, Is the Key to Unlocking Human PotentialI, Human: AI, Automation, and the Quest to Reclaim What Makes Us UniqueConfidence: How Much You Really Need and How to Get ItPersonality and Individual Differences, 3rd EditionThe Future of Recruitment: Using the New Science of Talent Analytics to Get Your Hiring Right (The Future of Work)Personality and Intellectual CompetenceThe Psychology of Personnel SelectionPersonality and Individual DifferencesConfidence: Overcoming Low Self-Esteem, Insecurity, and Self-Doubt Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    52 分
  • 598. Becoming an Evangelist feat. Guy Kawasaki

    598. Becoming an Evangelist feat. Guy Kawasaki
    2025/11/17
    How do evangelism and business go hand in hand? Well, for today’s guest, evangelism is the purest form of sales. Guy Kawasaki is the Chief Evangelist at Canva and former Chief Evangelist for the Macintosh Division at Apple. He’s a prolific author, speaker, and podcaster, with hit books like Think Remarkable: 9 Paths to Transform Your Life and Make a Difference, Wiser Guy: Life-Changing Revelations and Revisions from Tech's Chief Evangelist, and Enchantment: The Art of Changing Hearts, Minds, and Actions.Guy and Greg discuss his evolving career path, why his work’s focus has shifted over time from how to succeed in business to how to succeed in life, the practicalities of sales, evangelism, and the overlooked necessity of these skills in business education. *unSILOed Podcast is produced by University FM.*Episode Quotes:Is evangelism the purest form of sales?42:25: I believe that sales is a very necessary and important skill. I would say that maybe evangelism is the purest form of sales. The difference between evangelism and most sales is that in evangelism, you have the other person's best interests at heart, not just yours.Remarkable doesn't mean reach and famous24:45: Remarkable does not mean rich or famous, although you can be rich or famous and remarkable. But it's really about the impact you've made on the world. And I don't mean you have to sell 300 million iPhones or 300 million computers; it's really what have you done?Stop chasing passion, start pursuing interest14:15: So the bar is so high for a passion. So a lot of people are saying, oh my God, I'm 22 years old, I haven't found my passion yet, what's wrong with me? I'm an underachiever. And what I think you should do instead is have your eyes open, you should have your brain open, i.e., a growth mindset. And whatever interests you, you should pursue it until you can discover if you really like it; maybe then it'll turn into a passion. But to look for Passion, capital P, out the gate is doing yourself a disservice.The three general qualities of remarkable people27:29: I've noticed that remarkable people have three general qualities. First of all, they have the growth mindset of Carol Dweck. If you have a growth mindset, you better back that up with a grit mindset of Angela Duckworth, because if you have a growth mindset, you're going to try things like surfing and hockey that you're not good at for years. So you need to persevere and have grit. And then the final thing you need is a grace mindset. So it's growth, grit, grace.Show Links:Recommended Resources:Dr. Robert Cialdini | Remarkable People podcast Dr. Robert Cialdini | unSILOed podcastInfluence: The Psychology of Persuasion, Revised Edition by Robert CialdiniIf You Want to Write: A Book about Art, Independence and Spirit by Brenda UelandCarol DweckAngela DuckworthGuest Profile:Professional WebsiteRemarkable People podcastGuest Work:Think Remarkable: 9 Paths to Transform Your Life and Make a DifferenceWiser Guy: Life-Changing Revelations and Revisions from Tech's Chief EvangelistEnchantment: The Art of Changing Hearts, Minds, and ActionsThe Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting AnythingRules For Revolutionaries: The Capitalist Manifesto for Creating and Marketing New Products and ServicesThe Macintosh Way Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    54 分
  • 597. Transforming Work Culture: From Firefighting to Strategic Flow feat. Donald C. Kieffer

    597. Transforming Work Culture: From Firefighting to Strategic Flow feat. Donald C. Kieffer
    2025/11/13
    What practical advice could leaders and managers implement right now in their organizations to increase productivity and decrease friction between disparate elements of their companies? How can managers reexamine legacy processes that have remained in place simply because they were, and reimagine them for the specific challenges of today’s business environment?Donald C. Kieffer is  a lecturer at the MIT Sloan School of Management, the founder of consulting firm ShiftGear Work Design, and the author of the new book There's Got to Be a Better Way: How to Deliver Results and Get Rid of the Stuff That Gets in the Way of Real Work.Greg and Donald discuss the concept of dynamic work design. Donald shares stories of challenges in work design across various industries, including healthcare, banking, and software. He also explains how dynamic work design focuses on understanding and improving human work by making the invisible elements of work visible, reducing inefficiencies, and promoting incremental improvements. With a bit of attention to detail and careful setup, systems and processes can be honed to better serve their businesses. Donald points to mistaken beliefs that senior managers often hold about work processes and emphasizes the importance of regulating work to maintain flow, avoiding the political dynamics that arise from inefficiencies, and managing by observing and understanding the real work, allowing organizations to work smarter and harder. *unSILOed Podcast is produced by University FM.*Episode Quotes:Injecting discovery into work09:15: If you're firefighting to run the day-to-day business, you have no time to think about the future, to even think about the strategy or think about what's happening. So, we're much more about improvement, about incremental improvement. What we are about is discovery. So the idea is that every action that you take in business, be it at whatever level, at the strategic level or the frontline level, is based on the assumptions that activity will cause an improvement. And so we run it as an experiment and say, instead of measuring the plan, we measure: did the activity actually do what you thought? And if it did, great, let's do more. If it didn't, why not? And so we inject discovery into the whole idea of doing, of human work against the target at every level.If you can't draw the work you can’t fix it16:14: I have a saying I use all the time that I love, which is, if you can't draw the work, you don't understand it, and you certainly can't fix it. And it comes from... [16:46] And I think we ask leaders all the time, can you draw it? Can you show it? They can't do it. They think they do it in their head. And this is the thing—why these tools, like A3 and different problem-solving tools, work—is that when you have to write down the problem statement, or when you have to draw the work, it moves it from that pattern-matching part of your brain, where you think you know it, to the rational part of your brain, where it shows you, I'm not really sure.Why we blame people instead of the work design the work36:53: If you see a problem, you tend to blame the person who's nearest the problem, even though it could have been caused way far away, because most of the time there could have been something they did, they could have done to keep it from happening. But you know, if there are like 500 opportunities per problem to happen, one or two of them are gonna get through, even though they're not that person's fault. So I think it's just something very human in us, which is why we call this work design. This is not about people; this is about the design of the work that's usually been ad hoc.On helping people do good work57:23: People want to do good work, meaningful work. Go find the stuff that's getting in their way, even if it's stuff you've put in the way, and get out of the way. Help them. Help them with the design of work. I know it's good for business. There are stories galore in the book about how points on the board, but I'll tell you why I do it when I should be sitting on the back porch collecting Social Security and drinking beer. It's because of the look on people's faces. We can actually go to work and be productive no matter what their level is and feel like they're part of something good and doing.Show Links:Recommended Resources:Takashi TanakaRoss PerotHarley-DavidsonClayton ChristensenDaniel KahnemanFrederick Winslow TaylorJugaadSteven J. Spear PodcastWilliam S. HarleyFive WhysNUMMISeagull ManagementGuest Profile:Faculty Profile at MIT Management | Sloan SchoolShift Gear Work DesignGuest Work:There's Got to Be a Better Way: How to Deliver Results and Get Rid of the Stuff That Gets in the Way of Real WorkGet Work Back on Track With Visual Management | ArticleHow to Rescue an Overloaded Organization | Article Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    54 分
  • 596. The Rules of Life’s Everyday Markets & How to Get Them to Work in Your Favor feat. Judd Kessler

    596. The Rules of Life’s Everyday Markets & How to Get Them to Work in Your Favor feat. Judd Kessler
    2025/11/11

    What if you could find a strategy for gaming the systems all around to work more in your favor? If you did, then things like coveted restaurant reservations, scarce concert tickets, landing the dream job, or even admission to top colleges could become much more in reach.

    Judd Kessler is a professor of business economics and public policy at the Wharton School and the author of Lucky by Design: The Hidden Economics You Need to Get More of What You Want. The book acts as a guide for not only participants in the everyday markets that shape our lives, but also the designers of those markets.

    Judd and Greg discuss the hidden markets that dictate restaurant reservations, concert tickets, college admissions, and even dating. They explore different market design strategies like allocation mechanisms, centralized clearinghouses, and signaling.

    *unSILOed Podcast is produced by University FM.*

    Episode Quotes:

    Why some markets don’t play by price rules

    03:51: So many of the markets that we play in do not resolve themselves with the price rising. Either the price stays low because the seller wants it that way, and there's going to be excess demand—more people that want the thing than there are units available at that price—or we have decided as a society that we're not going to use prices to do the allocations, that it would be fundamentally unfair, or it would be fundamentally inefficient because we don't think your willingness to pay truly captures how much you value it.

    How market participants get ahead by knowing the rules

    01:33: When you are a market participant, you can do better by understanding the market rules and thinking about how to play in them.

    The three E’s of a good market

    13:59: A good market will achieve the three E's: efficiency, equity, and being easy for market participants. And so what you've just tapped into is efficiency. And that's what makes this subfield of economics interesting, that there is no mechanism that satisfies all three of those perfectly all the time.

    Show Links:

    Recommended Resources:

    • Labubu
    • Better Online Tickets Sales Act
    • Alvin E. Roth
    • National Resident Matching Program
    • American Economic Association
    • Donald Mackenzie | unSILOed

    Guest Profile:

    • Faculty Profile at Wharton School of Business
    • Professional Website
    • LinkedIn Profile
    • X Profile

    Guest Work:

    • Lucky by Design: The Hidden Economics You Need to Get More of What You Want

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    58 分
  • 595. Beyond Logic: Unlocking Human Potential Through Story Science feat. Angus Fletcher

    595. Beyond Logic: Unlocking Human Potential Through Story Science feat. Angus Fletcher
    2025/11/07
    What strange thing happens when a neuron is left alone? Are there ways to moderate stress and anxiety, and even channel them into productive and helpful signals there to assist you in making good decisions? How can you develop initiative, and what has to change in today’s education landscape to accomplish this? Angus Fletcher is a Professor of Story Science at Project Narrative of Ohio State University. He also teaches screenwriting and is a screenwriter, as well as the author of several books including Primal Intelligence: You Are Smarter Than You Know, Storythinking: The New Science of Narrative Intelligence, and Wonderworks: The 25 Most Powerful Inventions in the History of Literature.Greg and Angus discuss the intersection of story science and philosophy, emphasizing the importance of mythos and narrative thinking as opposed to logos, the purely logical, data-driven approaches in areas like decision-making and leadership. Angus outlines how neurophysiology and the brain's natural restlessness contribute to human intelligence and explores the practical applications of narrative cognition in fields ranging from military operations to education and business. He highlights the role of literature in developing imagination, perspective, and emotional intelligence, arguing for its integration into educational systems and other training programs to cultivate better leaders, thinkers, and problem-solvers.*unSILOed Podcast is produced by University FM.*Episode Quotes:Why fear and anger are the two most powerful emotions41:50: I worked a long time with operators on this, and we particularly worked on fear and anger because those are our two most powerful emotions. Those are our fight-or-flight responses. Fear is flight, and anger is fight. And you know what is going on there? Well, what is going on there is your brain has a bias to action. Your brain always wants to be doing something. The moment that your brain is sitting still, it feels extremely vulnerable, so it always wants to have a plan. And when your brain experiences a severe threat and it realizes this threat is so new, so different, that it does not have a plan that it has confidence in, it does not know what to do here—that is when your brain starts to feel scared. That is when you feel fear. So the question is, why is fear the emotion that your brain evolved? Why did it not evolve some other emotion, like curiosity or whatever? And the answer is just because fear makes you incredibly susceptible to outside influence. The more scared you are, the smarter other people's suggestions sound.Emotion is the smartest thing in your brain41:06: Emotion is the smartest thing in your brain. If you're not using your emotions, you're severely limiting your intelligence. And the reason that we know emotion is the smartest thing in the brain is it's the oldest form of intelligence in the brain, so it's been keeping you alive for hundreds of millions of years.Stories help us imagine alternatives13:11: When you tell someone a story effectively, it allows them to imagine themselves in that position. And then what they do in that position is they imagine, what could I do? And when that's done effectively, what it allows them to do is imagine alternatives—not just alternatives from what they themselves are doing in their own lives, but alternatives to what the individuals did in that situation.Why modern life produces so much anxiety46:21: Why is it that so many people are experiencing over-anxiety in our modern world? Well, the first thing is that too many people spend their time inside these artificially stable environments where they're just not used to anything being unstable. If you spend all your time in the suburbs, and bananas are always there, even in the middle of the winter when you go to the supermarket and the whatnot, you know, then you're not ever coping or having to engage with even a mild amount of instability or volatility. So the moment you encounter any of it, you immediately freak out and think that something must be wrong.Show Links:Recommended Resources:MythosLogosDaniel KahnemanDual Process TheoryI. A. RichardsWilliam ShakespeareCase StudySteve JobsMike TysonRonald CraneNew CriticismPostmodernismPost-StructuralismSchadenfreudeThe Chicago SchoolAeschylusSophoclesFight-or-Flight ResponseGuest Profile:Faculty Profile at Ohio State UniversityProject Narrative Profile | Ohio State UniversityAngusFletcher.co | WebsiteAngus Fletcher | Wikipedia PageProfile on LinkedInSocial Profile on InstagramGuest Work:Amazon Author PagePrimal Intelligence: You Are Smarter Than You KnowNarrative Creativity: An Introduction to How and Why (Elements in Creativity and Imagination)Storythinking: The New Science of Narrative Intelligence (No Limits)Wonderworks: The 25 Most Powerful Inventions in the History of LiteratureCreative Thinking: A Field Guide to Building Your Strategic CoreComic Democracies: From Ancient Athens to the American RepublicScreenwriting 101:...
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    56 分
  • 594. Rational Choice Theory and Practical Wisdom: Analyzing Decision Making with Barry Schwartz

    594. Rational Choice Theory and Practical Wisdom: Analyzing Decision Making with Barry Schwartz
    2025/11/03
    How has rational choice theory come to dominate both our understanding of the world and our view of good judgment, and why is that a problem? What are the benefits of remembering to zoom in and out to get a better picture of problems and solutions? Why do we prefer reducing things to numbers even if that abstracts useful levels of data?Barry Schwartz is a professor Emeritus at Swarthmore College and the prolific author of many books. His latest titles include Choose Wisely: Rationality, Ethics, and the Art of Decision-Making and Wisdom: How to Discover Your Path in Work and Life.Greg and Barry discuss the limitations of rational choice theory, the importance of practical wisdom, and the role of judgment in making decisions. They also touch on the broader implications of rational choice theory across various fields, the history of economic and social science paradigms, and the necessity of incorporating ethical considerations into people’s decision-making. *unSILOed Podcast is produced by University FM.*Episode Quotes:The way we think about the world changes the world10:47: The argument in the book [Choose Wisely] was, the way we think about the world changes the world. And it is true that the way we think about the world changes the world, but it changes the world materially. It does not just change the world because of the ideas we have running around in our heads; it changes the material world. Yeah. The factory did not exist, and then it did. And as a result, what it meant to work changed. That was not in our heads. That was, you know, a structure that was out in the world that made demands on the people who walked in the door every day. So it was not idealism. The argument was that ideas change not just how people think, but what kinds of things people are able to do. And I think the same thing is true with rational choice theory, though it is a bit more abstract. You know, you cannot do a rational choice analysis without being able to quantify.Why we can’t game the way to design incentives14:16: People somehow think that there is a bulletproof way to design incentives, so that they will not distort why they gave us the incentives they are designed to encourage. And, the bad news is there is no such thing, and there is no system that cannot be gamed.How economics changes the way we think07:22: There is a general, more general problem in social science, which is that, unlike planets, people are affected by claims that are made about what they are like. And so, the more we read social science, and the more economics, the king of the social sciences, dominates the news, the more inclined we are to think like and act like economists. So, does this tell us that the economists have discovered something? No. I mean, maybe. But it is just as likely that what economists have done is create something. They have created a way of approaching decisions and value assessment and so on that is consistent with their framework and changed people as a result.What we miss when we measure everything42:15: Rational choice theory is not neutral about what stays in the frame and what goes outside it. Things that go outside the frame are the ones that are most difficult to quantify using the same scale that you are using for everything else. And so, in the case of the price of a pound of beef, you could add the amount of money that our taxes contribute to subsidies. You could factor in the costs of the fertilizers that enable the corn to grow enough so that the cows can get fattened up. How do you quantify exactly the cost to human health? You can do it. How many more dollars do we pay per year because of antibiotic-resistant bacteria? But does that capture the cost in health? No. It only captures the dollar cost in health.Show Links:Recommended Resources:Rational Choice ModelDaniel KahnemanReinforcement LearningB. F. SkinnerReflexivity (Social Theory)Karl PopperGeorge SorosGoodhart's lawThe Omnivore's DilemmaAnnie DukePhronesisTelosSwarthmore CollegeAdnan KhashoggiGuest Profile:Wikipedia PageFaculty Profile at Swarthmore CollegeProfile at The Decision LabSocial Profile on XGuest Work:Amazon Author PageChoose Wisely: Rationality, Ethics, and the Art of Decision-MakingWhy We Work (TED Books)Wisdom: How to Discover Your Path in Work and LifeBrilliant: The Art and Science of Making Better DecisionsThe Paradox of Choice: Why More Is Less, Revised EditionPractical Wisdom: The Right Way to Do the Right ThingAre We Happy Yet? Happiness in an Age of Abundance (Cato Unbound)The Paradox of Choice: Why More Is LessThe Costs of LivingThe Battle for Human Nature: Science, Morality and Modern LifeRelated unSILOed episodes:Barry Schwartz - Why We Work: Breaking Down the Psychological and Economic Factors of a Great WorkplaceDonald MacKenzie - Trading at Light Speed: The Impact of Ultra-Fast Algorithms on Financial Markets Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of ...
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    1 時間 8 分