Chicago Booth Review Podcast

Lisa Stefanik, an expert in interpersonal dynamics at Chicago Booth, dives into the essential nature of workplace conflict. She explains how avoiding confrontation can lead to echo chambers, stifling innovation. Instead, conflict can serve as a valuable tool for better decision-making and collaboration. Stefanik emphasizes the need for open communication and accountability in corporate structures, advocating for discomfort as a pathway to constructive dialogue. By embracing tension, teams can strengthen their relationships and improve organizational outcomes.

Anders Humlum, an Assistant Professor of Economics at the Booth School of Business, explores why women are utilizing generative AI less than men. He discusses the productivity implications of this gender gap and the necessary training to bridge it. The conversation also highlights demographic differences in AI adoption, the role of generative AI in various occupations, and how businesses can support equitable access to these tools. Humlum raises critical questions about who will truly benefit from the AI revolution.

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 decades. So what effect could that have on culture?

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 focusing on incentives, funding and management. So how could we structure things to make government agencies worth their funding?

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 of the Federal Reserve—if the Fed and the White House are on a collision course.

Eric Zwick, a Chicago Booth professor specializing in tax policy, discusses the potential expiration of the 2017 Tax Cuts and Jobs Act. He delves into whether tax cuts truly yield the promised economic benefits and the uneven effects on different income groups. Zwick analyzes the balance between government spending and the national debt, the historical performance of recent tax reforms, and the ideological clash over tax policy. He also explores future proposals for tax cuts and their implications on inflation and government revenue.

Join Randy Kroszner, former member of the President's Council of Economic Advisers and the Board of Governors of the Federal Reserve, as he dives into Trump’s unique economic strategies. They discuss his use of tariffs as negotiation tools and the unpredictability of policy changes. Kroszner examines the implications of government shutdowns on economic stability and reflects on the challenges posed by a strong dollar. The conversation also touches on deregulation and its role in enhancing U.S. competitiveness amidst a complex economic landscape.

Michael Weber, a Chicago Booth researcher focusing on consumer behavior and tariffs, discusses the intriguing impacts of Trumponomics. He reveals how consumer expectations of rising prices are reshaping shopping habits and driving inflation. The conversation touches on the parallels between tariffs and sales taxes, leading to misconceptions that prompt stockpiling. Weber also highlights the tension between the Trump administration and the Federal Reserve, as they navigate the delicate balance between domestic job growth and inflation control.

Lisa Stefanik, an expert in interpersonal dynamics at Chicago Booth, shares valuable insights on the often uncomfortable subject of layoffs. She discusses how to communicate layoffs more humanely and consider the emotional impacts on both affected employees and remaining staff. Stefanik emphasizes the importance of compassionate messaging, strategies for managing these conversations with empathy, and utilizing professional networks post-layoff. She also highlights how to embrace layoffs as potential opportunities for growth.

Thomas Talhelm, a Chicago Booth researcher, dives into how different cultural practices around rice and wheat farming shape our understanding of happiness. He discusses the social dynamics of these communities, revealing that wealth doesn't always equate to joy. The intrigue continues as Talhelm unpacks how social comparison, particularly in the age of social media, impacts our well-being. He emphasizes the importance of focusing on personal growth over societal pressures, offering valuable insights into the happiness paradox.