Unconventional Wisdom
Episode description
“I don’t see things like anybody else,” says Jonathan Berk, a professor of finance at Stanford Graduate School of Business. “And so I can see things people don't see.”
On this episode, Berk explores recent research that pushes against conventional wisdom, from questioning the utility of the debt-to-GDP ratio to asking whether regulation is actually in the best interests of the consumer.
“If you disagree with me… You have to write down a convincing theoretical model and analyze [it].”
Berk admits his unique lens doesn’t always make life easy. But on the other hand, “it confers an enormous advantage” — and he believes that organizations which are able to harness the power of unconventional thinking can gain a competitive edge.
“It’s allowed me to solve problems that other people couldn't solve,” he says.
Has seeing the world differently helped you resolve a conundrum? Tell us more at ifthenpod@stanford.edu.
Related Content:
Chapters:
00:00:00 The Fosbury Flop, innovation, & unconventional thinking
00:03:18 Introduction
00:04:24 Questioning conventional wisdom
00:04:57 Rethinking the debt-to-GDP ratio
00:08:21 A finance perspective on national debt
00:10:36 Why theory matters before alarm
00:12:38 Regulation, charlatans, & consumer interests
00:16:22 Licensing, certification, & competition
00:19:51 The cost of pushing back
00:21:16 Building organizations that welcome dissent
00:24:59 Conclusion
If/Then, from Stanford GSB, features conversations with faculty that explore how their research deepens our understanding of business and leadership.
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