Yale School of Management

This commentary originally appeared in Time. Recent battlefield reverses in Ukraine, with Kherson under increasing attack, are powerful reminders that Ukraine needs every penny of support it can get urgently. Yet Western governments still refuse to seize Russia’s $300 billion in frozen assets, even though the idea of making Russia pay for Ukraine’s rebuilding is broadly popular across the U.S.—with even House Speaker Mike Johnson embracing it as “pure poetry.”…

In 2009, Andrew Metrick and Gary Gensler were both serving in the Obama Administration on the front lines of the response to the Global Financial Crisis. In fact, they worked together to address hidden risks in the “repo” market that played a major role in the market crashes of that era. Fifteen years later when Gensler, now the chair of the U.S. Securities and Exchange Commission, visited Yale SOM to…

This season we've been taking on HOW to learn through experience which fundamentally challenges the brain-bound assumption that learning starts and stays in the brain. We aren't so great at honoring the wisdom, expertise, and leadership that emerges from lived experience, but our own life may guide us – especially if we tap into learning practices, like reflection and challenging our perspective. My guest on this episode is a shining…

Q: Are national security issues showing up in space? National security issues have shown up in space since the Cold War. Militaries around the world are enabled by space. They’re applying space technology for communications, for positioning—when you drop a bomb, you want to be able to precisely hit a target—and for situational awareness. Intelligence gathering or reconnaissance from space is very important for understanding the world they’re operating in.…

Should corporations invest in green production methods, offer employees generous health benefits, or allow employees time during the work week to volunteer? Whether and how for-profit companies should invest in corporate social responsibility (CSR) and other forms of socially motivated spending is hotly debated. Some argue that companies have a responsibility to their broader society. Others insist that the sole focus of the corporation should be shareholder value. Kelly Shue,…

Howie and Harlan discuss health and healthcare headlines. From flatlining telehealth to Walmart closing retail clinics to months-long waits for healthcare appointments, they try to untangle the challenges in delivering healthcare. Also considered, H5N1 bird flu increasing the risks of drinking unpasteurized milk, promising research on open-source moderation of misinformation on social media. Links: Yale Repertory Theater | The Far Country CDC | H5N1 “US bird flu outbreak spreads to…

This commentary originally appeared in Chief Executive. From the 1960s through the 1970s, AT&T advertised its long-distance service as “the next best thing to being there,” suggesting phone calls were a good substitute for seeing family members in person—but that might not work for the boss. Virtual meetings that save travel costs and provide visibility for CEOs of vast enterprises who can’t be everywhere at once are necessary but no…

Howie and Harlan are joined by Arthur Caplan, Drs. William F. and Virginia Connolly Mitty Professor of Bioethics and founding head of the division of medical ethics at NYU Grossman School of Medicine, to discuss the ethical failings of the pharmaceutical industry and how a community-focused ethos prioritizing justice and protection of the vulnerable would have reshaped the COVID response. Harlan reports on developments in synthetic proteins. Howie recognizes World…

This commentary originally appeared in Newsweek. This weekend’s political leadership case study felt like a Frank Capra film script of a chapter from John F. Kennedy’s Profiles in Courage, as House Speaker Mike Johnson reversed course and stared down threats from extremists in his party, such as Marjorie Taylor Greene, Matt Gaetz, and Paul Gosar, in passing $95 billion in military support for Ukraine, Israel, and Taiwan. It’s not often…

When you’re making decisions, should you listen to your gut or only lean on reason? Research suggests we should do both. Lynn Tilton lost her father as a teenager and experienced firsthand what the loss of the main income provider can do to a family. She got herself into Yale on a tennis grant, married while at Yale, became pregnant shortly after graduation, and soon became a single mom. It…

Q: There’s tremendous attention on inflation these days. But the Federal Reserve and other central banks have been dealing with extraordinary circumstances for more than four years. Would you walk us through the challenges, the responses, and what we have learned, starting with the shutdown from the COVID pandemic? While “unprecedented” is a term that can be overused, when the pandemic hit in 2020, it was an unprecedented shock. It…

Teresa Chahine: Welcome back, everyone. I’m here with Peter Hagan, the Digital Health Director of Commonwealth Care Alliance, and he’s here to talk to us about his former role in Iora Health, which was one of the startups that really pioneered the value-based care model in public health. Thank you so much, Pete, for being here with us today. Peter Hagan: Thank you for having me. Teresa Chahine: You’re able…

“If you care about climate change, you have to care about buildings,” said Jessica Bailey, CEO of Nuveen Green Capital. Her work scaling a financing mechanism called C-PACE (Commercial Property-Assessed Clean Energy) has helped building owners fund over $7 billion in clean energy and efficiency projects. Yet, she added, “I think of what we do as stealth sustainability.” Since most developers are focused on the bottom line, “we had to…

Howie and Harlan are joined by Scott Berkowitz ’03, cardiologist and chief population health officer at Johns Hopkins Medicine, to discuss the necessity of moving from fee-for-service to value-based care delivery to improve outcomes for all. Harlan highlights the dangers of misinformation about Ivermectin. Howie reports on the potential conflicts of interest created by device manufacturers’ payments to cardiologists. Links: Johns Hopkins Medicine: Home Johns Hopkins Community Health Partnership “Association…

Since this season of the podcast is all about the HOW of learning through experience, I wanted to talk to Annie Murphy Paul who basically wrote the book on learning outside the brain. She’s the author of several books, and I love to talk with people after they have had a chance to learn through the experience of their book being out in the world. In this episode, we focus…

Q: Nanoracks was founded in 2009. What was it like to launch a space startup at that point? There were very few space startups and credibility was low. Nanoracks was one of the first, if not the first company, knocking on the door at NASA saying, “Hey, if you give us some room on the International Space Station (ISS), we'll figure out how to use it.” A lot of people…

(This opinion essay was originally published on Newsweek on March 29, 2024.) We represent a group of 25 Yale faculty who have just returned from a five-day visit to Israel. Our mission was to learn from and make meaningful academic connections with our Israeli counterparts. Much of what we learned and observed astounded us. The environment is challenging, yet the Israeli academic enterprise has proven breathtakingly resilient. Imagine operating a…

Howie and Harlan are joined by Atheendar Venkataramani, a physician, health economist, and director of the Perelman School of Medicine’s Opportunity for Health Lab, to discuss the powerful role of economic opportunity in population health outcomes. Harlan reports on two studies where treatments’ unexpected benefits leapt ahead of understanding why they work. Howie reflects on the business model of the pharma industry and the market reaction to anti-obesity drugs. Links:…

Q: What is the scale of the mental health need in the U.S.? It’s estimated that more than one in five adults live with a mental illness. And if you add addiction—substance use disorder—that number gets much larger. It’s also pretty alarming that 55% of adults with mental illness go untreated. That’s devastating for those individuals and their families and friends. There are impacts on productivity, employment, even lifespan, and…

Q: What project are you undertaking with your academic career? I study the economics of education. My goal is to understand how education shapes big-picture outcomes like inequality, upward mobility, and economic growth. I’m looking across educational levels from early childhood through college to think about the value of education both as instrumental to our economic lives and as an intrinsic good. I want to help provide evidence for which…

Howie and Harlan are joined by Kate McEvoy, executive director of the National Association of Medicaid Directors, to discuss the programs’ underappreciated advances in holistically addressing health, housing, and food security. Reflecting on the upcoming election, Harlan notes that facts matter, whether in medicine or politics. Howie reports on the dangers of glyoxylic acid in hair straightening products. Links: “Trump Leads Biden in Six of Seven Swing States, WSJ Poll…

People seem to really like their iPhones. What is the harm to consumers from the behavior that prompted the EU regulation and the Department of Justice lawsuit? The iPhone is indeed a great product. I have one myself. Perhaps the easiest way to explain it is to consider how we would all feel if Motorola had been able to prevent the innovation that became the iPhone 20 years ago and,…

This commentary originally appeared in Fortune. Having known the past six CEOs of Boeing personally across multiple corporate governance crises, my phone has been ringing off the hook since the abrupt announcement of a massive shakeup in Boeing’s leadership ranks, including the retirement of CEO Dave Calhoun at the end of the year, the replacement of Board Chair Larry Kellner, the immediate resignation of Boeing Commercial Airplanes CEO Stan Deal,…

Howie and Harlan are joined by Margo Harrison, an OB-GYN and femtech entrepreneur, to discuss how innovative solutions to women’s health problems offer deeper understanding and expanded choices. Harlan and Howie each offer a caveat emptor for lightly regulated, unproven supplements and treatments such as Prevagen and hydration spas. Links: “Prevagen Review: A Word of Caution” “Prevagen®: Analysis of Clinical Evidence and Its Designation as a ‘#1 Pharmacist Recommended Brand’”…

Jiwoong Shin, professor of marketing at Yale SOM, likes to keep in touch with his former students. They tell him about what’s going on in the world and give him ideas for new research. In December 2019, one of those former students, now a restaurateur in New York and San Francisco, came back to New Haven and met up with Shin for dinner. Shin asked how things were going. There…

As Disney’s closely watched proxy fight barrels toward the finish line with shareholders casting their votes on April 3, critics of CEO Bob Iger have launched a fuselage of attacks, criticizing Iger’s track record and his plans for turning around Disney. But amidst widespread interest from non-business audiences, these criticisms often drown out the facts and fail to see the whole story before them. Here are five persistent but false…

How prevalent are bots as the 2024 election nears? Today’s bots are much more sophisticated, capable of creating and posting original content that makes them seem convincingly real. This technological leap means that, in the current election cycle, bots have the potential to be far more persuasive and impactful than before. Bots have been a concern in major elections since 2016. Initially, they were relatively straightforward to identify, mainly serving…

This commentary originally appeared in Fortune. In the first few months following Russian President Vladimir Putin’s invasion of Ukraine, we documented how the voluntary exits of over 1,000+ global companies from Russia (that we helped catalyze), paired with government sanctions such as the G7 oil price cap (that we helped the U.S. Treasury design), had a crippling initial impact on the Russian economy—building on our research on how economic pressure…

Howie and Harlan are joined by Yale health economist Zack Cooper to discuss his work on surprise medical bills and the impact of high healthcare costs on households, wages, and the economy. Harlan reports on Hippocratic AI’s efforts to develop AI nurses. Howie looks at the global effort to eradicate tuberculosis. Links: “Hippocratic AI banks $53M backed by General Catalyst, a16z, Memorial Hermann, UHS and other health systems” “Polaris: A…

The wizardry of ChatGPT captured the world’s attention when it was released in 2022 and became the most successful product launch in history. Since then, AI companies and startups have attracted billions in new investments, and the technology has continued to dazzle. Consumer-facing AI programs can now compose love ballads—or fabricate realistic video of cowboys riding unicorns and shooting water pistols—from simple text prompts. There are uncountable reasons to be…

Revenue fraud—when a company artificially inflates its revenue to meet investors’ expectations—can wreak havoc on financial markets, which rely on accurate information to function properly. In recent years, scholars have attempted to improve fraud detection methods by using machine learning, statistics, and even vocal emotion analysis software, which analyzes the speech of corporate executives on earnings calls. Yale School of Management Professor X. Frank Zhang and two co-authors have a…

Economic inequality continues to widen—and not just between people, but between places, too. The United States, for example, has seen a regional divergence since the 1970s, when the country began transitioning away from heavy manufacturing and toward a service-based economy, resulting in dampened economic prospects and living standards throughout the Rust Belt. The widening chasm between richer and poorer regions has motivated policymakers in multiple countries to offer incentives, like…

Howie and Harlan are joined by Robert Alpern, a Yale nephrologist and the former dean of the Yale School of Medicine, to discuss the importance of a fiscal base for enabling a medical school to deliver top-quality training, research, and clinical care. Harlan asks whether widespread norovirus is a reason to call it quits on shaking hands. Howie reports on a study of the increased mortality among those with ADHD.…

In the spring of 2022, a team of economists and public health researchers led by Mushfiq Mobarak, Niccolò Meriggi, and Maarten Voors spent weeks bumping along rough, gullied roads in rural Sierra Leone. It was hot and humid, but at least it was the dry season: Sierra Leone has the highest annual precipitation in West Africa, and most roads are unpaved, so when the downpours come, the roads become mud-slathered,…

Howie and Harlan are joined by Robert Rohrbaugh, professor of psychiatry and deputy dean for professionalism and leadership at the Yale School of Medicine, to discuss his work training doctors in antiracist practices and ensuring the wellbeing of clinicians during the pandemic. Harlan reports on the problematic history of medical journals promoting eugenics; Howie highlights a cyberattack that has paralyzed Change Healthcare, the country’s largest payments processing hub. Links: Antiracist…

Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz. Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University. We’re trying to get closer to the truth about health and healthcare. Harlan and I have intentionally set aside several episodes each year to cover a broader range of important news in the healthcare and health realm. And so I want to start off today with something…

With the new year comes our annual tradition of recognizing three CEOs for their accomplishments over the last 12 months—as well as three CEOs who are on the hot seat after a year of struggles. Such an effort at accountability can teach us a lot about the future, as glancing backward is often a valuable guide to the path forward. While there can be surprise technological and market disruptions, classical…

Sometimes, political reporters without a background in business journalism make egregious errors in their coverage of the business exodus from Vladimir Putin’s Russia—and even fall for the strongman’s Potemkin Village-like economic façade. A recent article, entitled “How Putin Turned a Western Boycott Into a Bonanza”, wrongly suggested that the historic business exits of over 1,000 multinational companies from Russia have somehow been a huge win for the Russian war effort,…

Should we hold accountable companies that fail to meet their climate commitments? There is important research by Professor Kelly Shue that shows in some cases, investing in “brown firms”—or firms that are transitioning to lower emissions in greenhouse gas-intense sectors—has a greater benefit to the environment than investing in firms that are already green with low emissions. So we need to be smart about which GHG emissions commitments of net-zero…