Chicago Booth Review Podcast

The Trump administration has gutted central government, lashed out at the Federal Reserve, and is attempting to dismantle the international trading order. Can America's institutions survive? We hear from Chicago Booth's Raghuram Rajan about the role of institutions in political economy. Are we seeing a reversal of fortunes, in which the US is looking more and more like a caricature of a poor count...

Private equity investments are typically locked up for many years, which means investors don't know at any point in time how much their stakes are worth. Should they take at face value the valuations that PE firms provide? Chicago Booth's Steve Kaplan has detected patterns in private equity valuation reports that reveal whether the company will be sold at a premium, and when that exit might happen...

In recent decades, many manufacturing workers in developed economies have lost their jobs, replaced by robots or cheaper imports. One option is to try to get those jobs back. Another is to retrain them to acquire skills that are in demand. But does it really make sense to send displaced manual workers to college? Chicago Booth's Anders Humlum talks about his research on retraining injured workers,...

Imagine that you hear about a powerful new miracle drug just discovered. If the scientist who did the research had stock options in the drug maker and stood to make a lot of money if the drug got approved, would that affect how you think about it? Luigi Zingales talks about his research into conflicts of interest in research and what should be done about them.

Many of us have a general sense that as a society, we're not just becoming more polarized politically, but we're also moving further apart culturally – what we buy, what we watch, how we spend our spare time - these consumer behaviors are also increasingly diverging. Chicago Booth's Emir Kamenica has studied the cultural divide in America. While his research confirms a widening gap in social attit...

One of the fastest-growing parts of the financial system in the past 15 years has been private credit, that is, lending not by banks but by other financial institutions or funds that don't take deposits. The sector expanded ten fold between 2009 and 2023, to reach a value of about $2 trillion, according to McKinsey. And McKinsey thinks it has room to continue growing to become a $30 trillion indus...

Employees are increasingly using AI, and their employers are increasingly encouraging them to do so. Companies are building their own chatbots, and training their staff in how best to use the technology. You might think this would be feeding through into corporate profits and boosting the economy. So why isn't it? We hear from Chicago Booth's Anders Humlum, whose research documents the paltry effe...

Moving home is one of the most stressful things you'll do in life, but negotiating to buy a home has to be up there. Chicago Booth's George Wu teaches negotiation to MBAs. What techniques does he recommend to reduce the stress and improve the success when it comes to getting a deal over the price of a home?

The US murder rate is around 5 per 100,000 people, lower than a recent COVID-era spike, but nonetheless much higher than most other developed countries. Many Americans have concluded that either they need a gun to protect themselves, or that the problem is too big to address. In our second episode with Jens Ludwig, author of Unforgiving Places: The Unexpected Origins of American Gun Violence, he o...

The United States has more guns than people, and one of the world's highest rates of gun homicide. What's really driving America's appalling murder rate? Is it bad people, poverty, or something else? Jens Ludwig, a professor at the Harris School of Public Policy, and Director of the University of Chicago's Crime Lab, talks to us about his new book, Unforgiving Places: The Unexpected Origins of Ame...

Married people are happier than the unmarried, on average. Those who are married and having regular sex are even happier. And over time, the difference between the happiness of the married and the unmarried is growing. So what do the statistics tell us about sex, marriage, and happiness? Chicago Booth's Sam Peltzman talks about his research into happiness and marriage.

Most nonprofits depend on donations. But should they be acting more like companies, and focus on raising revenue instead? Chicago Booth's Rob Gertner thinks philanthropy might not be the best way to achieve a social goal. He talks about his research into social enterprises—organizations that have a social goal, but achieve it in part by charging money for goods and services.

Many of us have so many subscriptions that we've lost track of them all. Companies also increasingly have subscriptions for services such as software and cloud computing. As customers, they're the source of a lot of value to providers. Chicago Booth's Amir Sufi says this "customer capital" accounts for a lot of the differences in how companies are valued between industries. And it might even have...

What makes news stories newsworthy? Can you measure newsworthiness? Are people right in thinking that the media tend to focus on bad news? Chicago Booth's Emir Kamenica argues that accounting for newsworthiness changes how we view the media's apparent focus on negative news. So how do you measure newsworthiness? And is the news not always as negative as it may first appear?

Elon Musk's DOGE, the Department of Government Efficiency, has driven a steamroller through the federal government, slashing jobs and dismantling entire agencies. But will it actually do much to address the US's budget deficit? We hear from Chicago Booth's Sam Peltzman, a longtime critic of government regulation and bureaucracy, and a onetime federal employee himself.

In February, Jeff Bezos, owner of the Washington Post, said its opinion section would focus on contributions that support "personal liberties and free markets" and would not run any opinions that oppose those two values. In response, Chicago Booth's Luigi Zingales called for opinion writers to boycott the publication. What does Zingales think the episode tells us about media coverage in the age of...

Who is the face of capitalism? And how has that face changed over time? In this bonus episode, John Paul Rollert, our In-House Ethicist, Rollert analyzes some of the characters who have represented capitalism over time in the popular imagination, revealing how many people perceive the economic system. He charts the evolution of capitalism's protagonists from the hardworking professional lauded by...

Salary negotiations are difficult. Many of us hate talking about money, particularly with a potential employer. So what can you do to make sure you arrive at a fair wage? Chicago Booth's George Wu says the trick to a successful salary conversation is to prepare, give yourself options, and don't celebrate too soon.

As long as there's been a workplace, there's been tension, strains, and disagreements between coworkers. Many of us are conflict-averse, and try to avoid sensitive areas that we know could lead to confrontation. But is that the wrong approach? Chicago Booth's Lisa Stefanac says that workplace conflict contains valuable data, if only we know how to gather and learn from it. Confronting conflict, ra...

Research suggests that women are using generative AI much less than men. Why? And who is using the technology to make them more productive at work? In this episode, we hear from The Pie, a podcast from the Becker Friedman Institute for Economics at the University of Chicago. Host Tess Vigeland speaks with Chicago Booth's Anders Humlum, a labor economist, about the effect of generative AI on the wo...

What shapes a society's culture? Chicago Booth's Thomas Talhelm links the abundance of water in a region to its attitude to the future. His research finds that people who live in areas where water is plentiful tend to live more in the moment, whereas those who live where water is scarce tend to plan more for the longer term. Climate change will result in big changes to water access in the coming d...

Elon Musk's Department of Government Efficiency (DOGE) has taken a sledgehammer to Washington, closing government agencies and leaving many federal employees unsure if they still have jobs. Will that really make government more effective? Chicago Booth's Rob Gertner says DOGE may end up creating a less effective and less efficient federal government. Rather than smashing things up, he advises focu...

President Trump has accused the Federal Reserve of causing and failing to stop inflation. Instead, Trump says he will take care of the issue by producing more energy and boosting US manufacturing. Will the next four years see a confrontation between the Fed and the White House? We ask Chicago Booth's Randy Kroszner—a former member of both the President's Council of Economic Advisers and the board...

This year will see a lot of Congressional wrangling over tax cuts, as many provisions of the 2017 Tax Cuts and Jobs Act are set to expire. Do tax cuts actually produce the economic benefits that their proponents claim? In the latest in our Trumponomics series, we hear from Chicago Booth's Eric Zwick, who is part of team that conducted an extensive study of the 2017 law. Did the tax cuts pay for th...

The first few weeks of the Trump administration have seen the president demonstrate how he approaches negotiations with threats of tariffs, how he closes down government departments without warning, and how what is stated as policy in the morning can be overturned by the afternoon. What effect could all this have on the US economy? To hear more, join the University of Chicago online at 6pm Central...