All Else Equal: Making Better Decisions

Private markets have taken off in the last couple decades, with more investors opting to invest in private equity and debt instead of public markets. But what caused that shift? And are the private markets really a better bet right now, or is there more to the story?  

Hosts and finance professors Jonathan Berk and Jules van Binsbergen sit down with private markets expert Ludovic Phalippou, a professor of financial economics at the ...

For the summer season, All Else Equal will be alternating between new episodes and reruns. In this week’s episode, we’re revisiting our conversation with Senior Fellow of the Hoover Institution at Stanford University John Cochrane. 
 

What exactly is a trade deficit? And why are so many policymakers fixated on it? Lately, the trade deficit in the U.S. is taking the bulk of the blame for the economic situation we’re in and it’s one of...

For the summer season, All Else Equal will be alternating between new episodes and reruns. In this week’s episode, we’re revisiting our conversation with Ford Foundation Professor of International Political Economy at the John F. Kennedy School of Government at Harvard University, and the author of the book Straight Talk on Trade: Ideas for a Sane World Economy, Dani Rodrik.

With President Trump’s tariffs on Canada, Mexico, China, a...

For the summer season, All Else Equal will be alternating between new episodes and reruns. In this week’s episode, we’re revisiting our conversation with Madhav Rajan of the University of Chicago Booth School of Business.

As more and more universities move away from full-time MBA programs, what does the future of business education look like? How should it look?

In this episode, hear perspectives from three of the top business schoo...

For the summer season, All Else Equal will be alternating between new episodes and reruns. On this week’s episode, we’re revisiting our conversation with historian Victor Davis Hanson.

History shows that as societies rise to greatness, the scales eventually tip back and those societies fall. But what leads to that fall and are we heading toward one? 

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen...

For the summer season, All Else Equal will be alternating between new episodes and reruns. On this week’s episode, we’re revisiting our conversation with Mohamed El-Erian on the intricacies of national debt and the best ways to measure it. 

Mohamed, Jonathan, and Jules explore the broader macroeconomic and geopolitical factors at play. They discuss the importance of demographic shifts as well as recent technological advancements (AI...

Is the emperor wearing clothes?  

Hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by economist and political scientist Timur Kuran who wrote the book, Private Truths, Public Lies: The Social Consequences of Preference Falsification. This 30-year-old book explains the social phenomenon where people express preferences they do not have.   As political and social tensions have risen in the U.S., the freed...

If universities believe they should be free from government interference and that students and faculty have the right to freely express whatever viewpoints they hold, then the universities should be held to the same standard, right? 

Hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by Richard Saller, an American classist and former interim president of Stanford University, to discuss whether or not the ...

What exactly is a trade deficit? And why are so many policymakers fixated on it? Lately, the trade deficit in the U.S. is taking the bulk of the blame for the economic situation we’re in and it’s one of the reasons the Trump administration is pushing for sweeping tariffs. But tariffs are likely not the answer, and a trade deficit might be better referred to as a capital surplus.  

As a continuation of the tariffs discussion in the l...

With President Trump’s tariffs on Canada, Mexico, China, and other countries now in full swing, what consequences from an economic standpoint could the U.S. be facing? And what was the path that led us here? 

Hosts and finance professors Jonathan Berk and Jules van Binsbergen put the tariffs question to economist and author Dani Rodrik. Rodrik is  the Ford Foundation Professor of International Political Economy at the John F. Kenned...

The recent crackdown on federal spending has universities sweating despite the fact that many of them boast huge billion-dollar endowments. So what gives? Why would less money from the federal government be a cause for concern? Where does all that money go? And could there be more to this budget picture than meets the eye? 

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen delve into the inner work...

All Else Equal is taking a little spring break, so on this episode we’re revisiting a fascinating conversation on what happens when universities step off the sidelines and take a stance on contentious issues. Are they boarding a roller coaster that they can’t ever get off? Hosts and finance professors Jonathan Berk and Jules van Binsbergen chat with John Etchemendy, former Provost of Stanford University, for a discussion about inst...

One key to effective negotiation is to keep your opponent guessing by randomizing your strategy. And right now, there might not be a more prolific example of this kind of strategy than President Donald Trump’s communication style.  

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by Peter Robinson, a research fellow at the Hoover Institution and former speechwriter for President Ronald...

Is it acceptable for doctors to lie to their patients, or withhold some of the truth, if it’s in the patient’s best interest? 

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen welcome back John Ioannidis, professor of medicine at Stanford University, to discuss the ethical implications of concealing the truth in the medical world, even when it’s for the greater good. 

The conversation touches on th...

As more and more universities move away from full-time MBA programs, what does the future of business education look like? How should it look?  

In this episode, hear perspectives from three of the top business schools in the U.S.: Stanford Graduate School of Business, The Wharton School at the University of Pennsylvania, and the Booth School of Business at the University of Chicago.  

Hosts and finance professors Jonathan Berk and J...

History shows that as societies rise to greatness, the scales eventually tip back and those societies fall. But what leads to that fall and are we heading toward one? 

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen speak with historian Victor Davis Hanson, a senior fellow at the Hoover Institution who specializes in classics and military history.  

The conversation explores the complexities and...

As we ring in the new year, we’re bringing back one of our favorite episodes! Handpicked by Jules and Jonathan, this previous conversation is perfect for starting your year with thought-provoking insights.

Are CEOs overpaid? It’s easy to see million-dollar (or even billion-dollar) salaries and jump to conclusions. But those figures might not capture the full picture. So, what really goes into deciding CEO compensation? 

In this episo...

During the 2024 U.S. presidential election, inflation was one of the most talked about issues, and there was one policy idea to get inflation under control that kept coming up: price caps. But history has shown time and time again that price caps do anything but reduce inflation. So why do policymakers still want to try it?

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen speak with guest Veronica...

Should legacy admissions at colleges and universities be banned? What are the benefits and tradeoffs of admitting students based on their legacy status? 

In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen speak with guest Patrick Awuah, president of Ashesi University, about the Ghanaian university’s unique economic engine and the place for legacy admissions in the higher ed world.  

The conversation ...