Economics Explored From Academia to Impact: Transforming Workplaces w/ Achyuta Adhvaryu, Good Business Lab - EP251
This episode delves into the work of Good Business Lab (GBL), co-founded by Professor Achyuta Adhvaryu. GBL focuses on innovative workplace interventions to improve worker well-being and firm productivity, and it typically evaluates these interventions using Randomized Controlled Trials (RCTs). Show host Gene Tunny and Ach discuss the effectiveness of soft skills training programs and the importance of worker voice in creating a more engaged and productive workforce. They discuss methodological issues regarding RCTs and whether the Hawthorne effect is a concern. Ach is Tata Chancellor’s Professor of Economics and Director of the 21st Century India Center at UC San Diego.
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About this episode’s guest: Professor Achyuta Adhvaryu
Achyuta Adhvaryu is the Tata Chancellor’s Professor of Economics at the School of Global Policy and Strategy and is the inaugural director of the 21st Century India Center at UC San Diego. Adhvaryu’s research interests are in development economics, organizational economics and health economics, and his experience in organizational development make him well-suited to lead our new center. Prior to this role, Adhvaryu was a professor at the University of Michigan and an assistant professor at the Yale School of Public Health.
https://gps.ucsd.edu/faculty-directory/achyuta-adhvaryu.html
What’s covered in EP251
- Introduction. (0:00)
- Achyuta's Early Career and Research in East Africa (1:53)
- Historical Examples of Private Sector Impact (17:03)
- Good Business Lab's Approach and Findings (21:45)
- Methodology and Measurement of Impact (37:56)
- Hawthorne Effect and Replication of Findings (43:33)
- Economic Development and Convergence (49:44)
Takeaways
- Soft skills training can significantly improve productivity, even in blue-collar settings.
- Worker voice, when effectively harnessed, can reduce turnover and absenteeism while boosting productivity.
- Good Business Lab demonstrates the practical value of academic research when applied to real-world business challenges.
- A growing body of evidence supports the integration of worker wellbeing initiatives into business strategies globally.
Links relevant to the conversation
Good Business Lab:
UC San Diego 21st Century India Center that Ach directs:
Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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