Thinkers & Ideas

Diane Coyle, a leading expert in productivity and public policy, joins Nikolaus Lang to challenge the traditional reliance on GDP as a measure of economic success. She discusses how GDP fails to account for digital services and the value of immaterial goods. Coyle proposes alternative metrics like inclusive wealth and the happiness index, advocating for a broader understanding of progress. She emphasizes the critical need for businesses to adapt their value creation strategies to reflect today’s complex economic realities.

In Chokepoints: American Power in the Age of Economic Warfare, Edward Fishman argues that the nature of international power has fundamentally shifted from military might to economic statecraft.Fishman is a senior research scholar at Columbia University’s Center on Global Energy Policy and an adjunct professor of International and Public Affairs at Columbia. Previously, he served at the US State Department, leading work on economic sanctions. In his new book, he examines how governments—particularly the US’s—are increasingly using financial tools, regulatory measures, and targeted sanctions to shape international relations, secure strategic advantages, and resolve conflicts.In his conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, he discusses the history of sanctions, how the US came to wield them so powerfully, how diplomatic back channels are navigated in applying them—and what is important for making them effective in enforcing the desired governance changes.Key topics discussed: 02:05 | The history of chokepoints and US dominance over them08:45 | The role of businesses in economic diplomacy12:17 | Navigating diplomatic back channels15:32 | The role of technology and export controls19:45 | Oil price caps as an innovation in sanctions design23:10 | The effectiveness of sanctions in enforcing governance changes27:44 | On the origins of this bookAdditional inspirations from Edward Fishman:Foreign Affairs: How Trump Could Dethrone the Dollar (April 8, 2025)

In There's Nothing Like This: The Strategic Genius of Taylor Swift, Kevin Evers examines the singer-songwriter's remarkable career success from a business strategy perspective.Evers is a senior editor at Harvard Business Review, where he has edited bestselling and award-winning books on high performance, creativity, innovation, digital disruption, marketing, and strategy.In discussion with Martin Reeves, Chairman of the BCG Henderson Institute, they cover the scale and longevity of Swift's success, the strategic moves and innovations that have driven her rise and staying power, her ability to reinvent herself and connect with fans in new ways, and lessons for strategists and companies.

In Space to Grow: Unlocking the Final Economic Frontier, Matthew C. Weinzierl and Brendan Rosseau discuss the discuss the history, the present, and the future of the space economy.Weinzierl is the Joseph and Jacqueline Elbling professor of Business Administration at Harvard Business School and founder of the Economics of Space project at HBS. Rosseau is an Orbital Launch strategy manager at the American space technology company Blue Origin. Together, they provide in-depth academic and practitioner perspectives on the space economy.In their conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, they discuss the central governance vs. market-driven models of the space economy, the geopolitics of space, and whether the first trillionaire will be an asteroid miner.Key topics discussed: 02:03 | The three phases of the space economy05:28 | Central governance vs. market-driven model of the space economy08:23 | Geopolitics of space11:33 | The market structure of the space economy (on Earth)17:14 | Space junk21:03 | Asteroid mining23:47 | How to make space interesting again

In The Corporation in the Twenty-First Century: Why (Almost) Everything We Are Told About Business Is Wrong, John Kay provides a novel perspective on the evolution of the contemporary corporation.One of the UK’s leading economists, Kay is a fellow of St John’s College, Oxford. He was the first dean of Oxford’s Saïd Business School and has held chairs at London Business School, the University of Oxford, and the London School of Economics and director of the Institute for Fiscal Studies.In his conversation with Martin Reeves, chairman of the BCG Henderson Institute, Kay discusses the essence of the modern corporation, the changing relationship of capital and labour, the gap between the our historic concept of the corporation and the current reality and the forces that have and will further shape the corporation including sustainability, geopolitics, and technology.Key topics discussed: 01:56 | The essence of a 21st century corporation05:53 | The changing roles of workers and capital12:26 | Limits to corporate scale16:00 | Forces that will shape the future of corporations sustainability, geopolitics, technology21:50 | The impact of AI on the nature of the corporation24:12 | Implications for managersAdditional inspirations from John Kay:Radical Uncertainty: Decision-Making Beyond the Numbers (W.W. Norton & Company, 2020)The Long and the Short of It: A guide to finance and investment for normally intelligent people who aren’t in the industry (IPS - Profile Books, 2016)Other People's Money: The Real Business of Finance (PublicAffairs, 2015)Obliquity: Why Our Goals Are Best Achieved Indirectly (Profile Books GB, 2011)

In a captivating discussion, Amar Bhidé, a Columbia University Health Policy professor and innovation expert, dives into the concept of Knightian uncertainty and its relevance to today's corporate landscape. He emphasizes the distinction between unique and repeated events, urging businesses to view uncertainty as a creative opportunity. The conversation also delves into how corporations can harness imaginative storytelling and effective routines to navigate unpredictability and examines the ambiguous role of AI in shaping future business strategies.

Baruch Lev, Professor Emeritus of Accounting and Finance at NYU, and Feng Gu, Professor of Accounting and Law at SUNY, delve into the complexities of mergers and acquisitions. They reveal that 75% of deals fail, primarily due to overconfidence among CEOs. The duo discusses a practical scorecard for assessing acquisition success and identifies patterns that lead to successful mergers. They also highlight the psychological pitfalls that often cloud decision-making and share key lessons for executives seeking growth through acquisitions.

Sandra Matz, a leading researcher at Columbia Business School, dives into the world of digital footprints and their impact on human behavior. She reveals how psychological profiling can predict our decisions, highlighting both the benefits and harms of personalization. The discussion touches on the challenges of data regulation across various regions and the ethical responsibilities of companies to manage user data. Matz also explores the ramifications of AI-driven content and offers insights on how individuals can better manage their digital presence.

Dan Davies, an economist and former investment banker known for his sharp analyses on finance and corporate governance, delves into the systemic flaws in decision-making. He discusses how big systems often produce undesired outcomes, the bureaucratic failures impacting areas like animal welfare, and the risks of accountability lost in complexity. Davies raises alarms about AI's potential to complicate decisions further if not implemented wisely. He emphasizes the need for redesigning decision systems to leverage AI effectively and avoid repeating past mistakes.

Sayash Kapoor, co-author of 'AI Snake Oil' and researcher at Princeton University, shares crucial insights on the realities of AI. He discusses the hype surrounding AI, highlighting the difference between predictive and generative AI. Kapoor explains how inflated expectations can lead to misconceptions, especially in healthcare applications. He emphasizes the need for regulatory measures to balance innovation with safety and urges managers to cultivate a healthy skepticism while embracing new technologies. Dive into his eye-opening exploration of AI's true capabilities.