More MPE with Professor Ray Horton and Sandi Wright

Over the last three decades, thousands of Columbia Business School students have taken part in the elective course, Modern Political Economy. Last year, we took this institution outside of the classroom with More MPE, where host Professor Ray Horton and Columbia Business School faculty casually discussed some of the most current and controversial issues that affect business, government, and society. This season, Ray and his colleague at the Tamer Institute, Sandi Wright, are going outside the building to have conversations with CBS alumni who have pursued extraordinary careers in fields ranging from social services to impact investing to the circular economy, and so much more. These inspiring leaders of social enterprises are making a profound impact in the public, private, and nonprofit sectors not just in New York City, but across the country and around the globe. Throughout the series, you're invited to submit questions that will become part of an in-person Q&A to wrap up the season with Ray and Sandi. More info can be found on: www.morempe.com More MPE is co-hosted by Sandi Wright and produced by The Podcast Consultant. Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26.

Catalysts for Change: CBS Alumni Shaping the Future of Social Enterprise 04/04/2025

Catalysts for Change: CBS Alumni Shaping the Future of Social Enterprise In the final episode of the season, hosts Ray Horton and Sandi Wright lead listeners into an engaging live discussion with eight distinguished Columbia Business School alumni, whose careers in social enterprise span industries from climate adaptation to financial inclusion, education equity, and impact investing. Together, they explore critical themes emerging from this season’s conversations: The evolving role of business schools in social enterprise: From experiential learning to incubating nonprofits, alumni share how Columbia Business School shaped their journeys. Mentorship as a cornerstone of success: Guests reflect on how mentors have guided their careers and the importance of building meaningful relationships beyond networking. Leadership in illiberal times: Facing challenges like reduced federal funding and political polarization, nonprofit leaders discuss strategies for resilience, advocacy, and coalition-building. This episode is a testament to the power of social enterprise as a force for positive change amidst uncertainty. The alumni share personal stories of impact — from transforming corporate mindsets to empowering vulnerable communities — and offer advice for aspiring leaders navigating complex societal challenges. Featured guests: Meyer Feldberg Dean Emeritus and Professor at Columbia Business School Russell L. Carson ’67 Chairman of The Carson Family Charitable Trust R. Glenn Hubbard Dean Emeritus and Russell L. Carson Professor of Finance and Economics at Columbia Business School Costis Maglaras Dean and David and Lyn Silfen Professor of Business at Columbia Business School Rohit Aggarwala ’00 Chief Climate Officer and Commissioner of Environmental Protection at the City of New York Phoebe Boyer ’93 President and CEO of Children's Aid Ron Gonen ’04 Founder and CEO of Closed Loop Partners Kaushik Kappagantulu ’17 Co-founder and CEO of Kheyti Lindsay Kruse ’06 CEO of All Means All Mary Jane McQuillen ’07 Head of ESG and Portfolio Manager at Clearbridge Daniel Nissenbaum ’88 CEO of Low Income Investment Fund Justine Zinkin ’02 CEO of Neighborhood Trust Financial Partners Key Takeaways: Business schools can be powerful incubators for social enterprise ideas — guests share how they leveraged courses, competitions, and networks to launch impactful ventures. Mentorship goes beyond networking; it involves long-term relationships that challenge and inspire growth at pivotal career moments. Resilience is vital in illiberal times — leaders must adapt through stakeholder management, storytelling, coalition-building, and creative problem-solving. Memorable Quotes: “Lone wolves don’t get very far in social enterprise.” – Ray Horton on the importance of mentorship and collaboration. “We are in the opportunity business.” – Phoebe Boyer on creating pathways for vulnerable children through Children’s Aid programs. “Great reputations are built in times of crisis.” – Ron Gonen on seeing challenges as opportunities for leadership and innovation. Special Thanks: This episode would not have been possible without support from the Tamer Institute team: Diana Rambau, Hannah Slow, and Sandra Navalli ’03. And a special thanks to first-year MBA students, Sofia Martins '26 and Dominica Wambold '26 for all their help throughout the season. Stay tuned for season three as we continue exploring the forces shaping modern political economy with insights from across the Columbia campus! Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/36010295

Ron Gonen ’04 on Building a Circular Economy Through Leadership and Innovation 03/18/2025

Ron Gonen ’04 on Building a Circular Economy Through Leadership and Innovation In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Ron Gonen ’04, founder and CEO of Closed Loop Partners, a New York-based investment firm composed of venture capital, growth equity, private equity, project finance, and an innovation center focused on building the circular economy. During this engaging interview, we discuss Gonen’s career trajectory, and he offers lessons on the transferability of leadership skills across different sectors, from entrepreneurship to government and finance. He stresses the importance of adaptability in leadership styles, particularly in motivating teams across various environments. His experience in the New York City Sanitation Department as deputy commissioner of sanitation, recycling and sustainability taught him valuable lessons about executing for leadership and maintaining high standards of professionalism. Gonen's interview provides valuable insights for current and future Business School students. He emphasizes the importance of having a clear vision and purpose when pursuing an MBA, advising students to tailor their education to their professional goals. Gonen's own experience at Columbia Business School demonstrates how he leveraged the School's resources, including the Greenhouse Program and Lang Fund, to develop and launch his first venture, RecycleBank. He highlights the significance of sales and HR skills, which he believes are often overlooked in top-tier MBA programs but are crucial for business success. For aspiring entrepreneurs, Gonen advises complete commitment to the venture, cautioning against considering other options if truly dedicated to starting a business. He also emphasizes the importance of learning from failures and quickly adapting those lessons to future ventures. For those interested in impact-focused careers, Gonen suggests identifying and maximizing specific skill sets that can complement entrepreneurial ventures. Throughout the interview, Gonen's story underscores the potential for combining social impact with financial success, challenging the notion that these goals are mutually exclusive. Mentioned in this Episode Ron Gonen ’04 Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/35701765

Turning Purpose Into Progress: Justine Zinkin ’02 on Leading Change in Social Enterprise 03/11/2025

Turning Purpose Into Progress: Justine Zinkin ’02 on Leading Change in Social Enterprise In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Justine Zinkin ’02, CEO of Neighborhood Trust Financial Partners, a national social enterprise providing financial services to low-income workers. Born and raised on New York's Upper West Side, Zinkin’s journey into social enterprise was influenced by her family's academic background and her parents' diverse experiences. Zinkin joined Neighborhood Trust directly after graduating from Columbia Business School in 2002, initially leading two separate but related organizations: Neighborhood Trust Federal Credit Union and Credit Where Credit Is Due. What she didn’t know at the time is that she was inheriting two nearly insolvent organizations. Fortunately, she was able to turn things around by applying some of the things she learned in business school, like turnaround management. Neighborhood Trust has changed a great deal under Zinkin’s leadership, evolving from a local nonprofit financed entirely by donations to a national organization that earns 25 percent of its revenues by selling financial consulting services to other organizations. Her growth plans see the Trust financed almost entirely by earned income, with donations limited to serving the organization’s research needs. Looking ahead, Justine discusses the challenges facing Neighborhood Trust, including potential changes in consumer financial protections that would threaten the Trust’s record of expanding the financial inclusion and empowerment of low-income workers. She closes by encouraging MBA students to pursue social enterprise careers, emphasizing the rewarding nature of applying business skills to solve intractable social problems. Mentioned in this Episode Justine Zinkin ’02 Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/35610360

Kaushik Kappagantulu ’17 on Empowering India’s Small Farmers, Scaling Kheyti, and Rethinking Social Enterprise 03/04/2025

Bridging Academia and Community With Shaba Keys: Insights From a Social Enterprise Leader 02/25/2025

Bridging Academia and Community With Shaba Keys: Insights From a Social Enterprise Leader In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Shaba Keys, adjunct faculty at Columbia University’s School of Professional Studies Nonprofit Management Program, founder and president of the Bridge Lab, and a dynamic leader in academia and community development. Born and raised in Washington, DC, Keys was deeply influenced by her parents, both educators who championed marginalized communities. This early exposure to civic engagement laid the foundation for her future in social enterprise. After completing her BA at Tufts University and JD from Columbus School of Law, Keys’s career took an unexpected turn. Her experiences during law school, particularly working with youth in detention centers, sparked her interest in addressing societal challenges. This led her to the Local Initiatives Support Corporation (LISC), where she gained a national perspective on community development. Keys’s work at LISC greatly influenced her career path. At Columbia University, in the offices of Government and Community Affairs and Strategic Initiatives, she focused on developing anchor institution programs and community support initiatives. She emphasizes the importance of collaboration between institutions and community organizations, and her unique position as both a professional and a community member allowed her to build trust and bridge gaps effectively. The interview also highlights Keys’s participation in the Tamer Institute’s Senior Leaders Program for Nonprofit Professionals, which provided her with new perspectives on leadership and the value of peer learning. Her extensive board service, including roles with the Boys and Girls Club of Harlem and other organizations, underscores her commitment to community development and youth empowerment. Keys concludes with advice for aspiring social enterprisers, encouraging them to maintain hope, embrace innovation, and recognize that there's a place for everyone in social sector work, regardless of their primary field of expertise. Mentioned in this Episode Shaba Keys Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/35415615

Trailblazing Sustainability: Mary Jane McQuillen’s 07’s Path to ESG Leadership 02/18/2025

Trailblazing Sustainability: Mary Jane McQuillen’s 07’s Path to ESG Leadership In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Mary Jane McQuillen ’07, head of ESG and portfolio manager at Clearbridge Investments, on her journey into sustainable investing, which might not be what you expect. It began with her experiences as a seasonal park ranger in New York City, where she witnessed firsthand the environmental impacts of oil spills and water pollution. These early experiences, along with influences from National Geographic magazines and Jacques Cousteau, shaped her environmental awareness and determination to address sustainability issues. Her career in sustainable investing started after her undergraduate studies, working with an investment team at Solomon Smith Barney that managed a sustainable fund, which was highly unusual at the time. McQuillen played a crucial role in defining ESG investing as part of a group of 12 asset managers working with the United Nations Environment Program Finance Initiative. This group coined the term "ESG" in 2004, moving away from the earlier concept of socially responsible investing (SRI). They focused on integrating environmental, social, and governance factors into fundamental analysis, emphasizing that these factors are material to long-term institutional investment. Throughout her career, McQuillen has faced pushback against ESG investing, often related to misconceptions about performance trade-offs. She emphasizes that ESG integration is not about exclusion but about enhancing portfolio performance through consideration of long-term factors. McQuillen provides examples of successful ESG investments, such as Costco, which demonstrates strong employee practices and operational efficiency, and SanDisk, where engagement on sustainability issues led to improved water management and employee retention. McQuillen discusses the evolving landscape of ESG investing and notes that the sector is often held to a different standard, partly due to misconceptions about performance and the diversity of ESG approaches. For aspiring ESG investors, McQuillen highlights opportunities in portfolio management with an ESG focus, emphasizing the importance of understanding companies' long-term strategies and sustainability commitments. She reflects on her career, noting that while it wasn't always easy, the growing body of research supporting the financial benefits of ESG integration has helped validate the approach. McQuillen's experiences demonstrate the potential for a fulfilling career that combines financial performance with positive impact, offering valuable insights for those interested in sustainable investing. Mentioned in this Episode Mary Jane McQuillen ’07 Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/35277055

Daniel Nissenbaum ’88: A Banker Who Puts His Money Where His Heart Is 02/11/2025

Transforming Education for All: Lindsay Kruse ’06’s Mission to Create Inclusive Schools 02/04/2025

Transforming Education for All: Lindsay Kruse ’06’s Mission to Create Inclusive Schools In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Lindsay Kruse ’06, CEO of All Means All, an organization dedicated to transforming education to be more inclusive. Kruse shares her inspiring journey from management consulting to becoming a passionate advocate for equitable education, especially for students with disabilities and other marginalized groups. Kruse discusses how her personal experience as a parent of children with learning differences became a catalyst for founding All Means All. She explains the organization's unique approach, which focuses on working with school and system leaders to create inclusive educational environments. Throughout the conversation, Kruse highlights the importance of data-driven impact and details how All Means All has helped schools improve academic outcomes for marginalized students and reduce disciplinary disproportionality. Kruse also discusses the organization's growth trajectory, aiming to create a tipping point where inclusive education becomes the norm rather than the exception. The interview delves into All Means All's funding model, which combines earned revenue from tuition with philanthropic support. Kruse explains the benefits of their fiscal sponsorship arrangement and offers valuable insights for aspiring social entrepreneurs. She emphasizes the importance of building something worthy of scale before expanding and the value of learning from other entrepreneurs in the field. Kruse concludes with inspiring advice for the next generation of social entrepreneurs, encouraging them to pursue this challenging yet rewarding path. She highlights the unique opportunities provided by Columbia Business School and New York City for those interested in social enterprise, emphasizing the importance of following one's passion and taking advantage of networking opportunities. We are delighted to announce that Lindsay Kruse ’06 will accept the 2025 Social Enterprise Leadership Award at the Tamer Institute’s Annual Awards Breakfast in April. More details can be found on the . Mentioned in this Episode Lindsay Kruse ’06 Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/35102455

The Role of Nonprofits in the Worlds of Business and Government With Phoebe Boyer ’93 01/28/2025

Kesha Cash ’10 on Transforming Communities Through Purposeful Investment 01/21/2025

Kesha Cash ’10 on Transforming Communities Through Purposeful Investment In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Kesha Cash ’10, founder and general partner of Impact America Fund. Cash's journey from humble beginnings to becoming a trailblazer in impact investing is a testament to her resilience and vision. She was the first in her immediate family to attend a four-year college and her experiences growing up in a low-income household — witnessing the challenges faced by small business owners — shaped her perspective on economic disparities. After graduating from UC Berkeley with a degree in applied mathematics, Cash worked on Wall Street as an M&A analyst. However, her desire to make a broader impact led her to pivot towards helping small businesses in underserved communities. This experience revealed the need for more substantial support and resources for these entrepreneurs, prompting Cash to pursue an MBA at Columbia Business School. During her time at Columbia, Cash co-founded Jalia Ventures, focusing on mission-driven entrepreneurs of color. This laid the foundation for her to launch Impact America Fund in 2013. The fund invests in companies that create positive impact for low and moderate-income Americans, aiming to prove that it's possible to generate strong financial returns while doing good for communities. Cash's investment approach is exemplified by Care Academy, a portfolio company that provides education and training for home care workers. This investment addresses the critical shortage of home care workers while aiming to improve their economic mobility and dignity. Cash's strategy involves identifying opportunities that combine financial potential with meaningful social impact. Throughout her career, Cash has benefited from and emphasized the importance of mentorship. She attributes much of her success to the guidance and support she received from various mentors at crucial junctures in her journey. Now, she actively mentors others, particularly those interested in impact investing and social enterprise. For aspiring social entrepreneurs, Cash advises ensuring personal financial stability before pursuing impact-focused work. She encourages focusing on one or two passionate areas rather than trying to solve all problems at once. Cash also emphasizes the importance of building and engaging with like-minded communities and balancing profit-making with social impact in a dual-mission approach. Mentioned in this Episode Kesha Cash ’10 Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/34928970

Managing NYC's Climate Crisis: A Conversation With DEP Commissioner Rohit Aggarwala ’00 01/14/2025

Managing NYC's Climate Crisis: A Conversation With DEP Commissioner Rohit Aggarwala ’00 In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Rohit “Rit” Aggarwala ’00, the chief climate officer and commissioner of the Department of Environmental Protection (DEP) of the City of New York, a position he has held since being recruited in 2022 to the administration of Mayor Eric Adams. The hat Aggarwala wears as commissioner of DEP puts him in charge of a major municipal agency, one with nearly 6,000 employees, a $1.5 billion operating budget, and a capital budget of $3.2 billion — and a long history. It performs three functions that are essential to the health of New Yorkers: supplying clean drinking water; collecting and treating wastewater; and reducing air, noise, and hazardous materials pollution. The hat Aggarwala wears as chief climate officer no doubt brings an urgency to the department’s longstanding programs given his belief that New York City’s environment faces a “climate crisis.” Aggarwala is a rare holder of three Columbia University degrees — a BA, an MBA, and a PhD — plus for 12 years and running an adjunct professor at the School of International and Public Affairs, where he teaches a popular course titled The Politics and Policy of Urban Sustainability. Aggarwala discusses a series of issues with Horton and Wright in this conversation: the impact of his Columbia degrees on his career; whether different skills are required to perform leadership roles in the private, public, and nonprofit sectors; the importance of networking in his career; and finally, an issue that has largely escaped consideration in the literature of management — should you stay or leave when your boss is in hot water? Mentioned in this Episode Rohit “Rit” Aggarwala ’00 Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . More MPE is co-hosted by Sandi Wright and produced by . Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/34790485

More MPE Season 2 Trailer With Ray Horton and Sandi Wright 01/07/2025

More MPE With the Political Economists (LIVE) 04/12/2024

More MPE With the Political Economists (LIVE) This final session features Professors Glenn Hubbard and Tano Santos, the faculty who teach the popular course Modern Political Economy at Columbia Business School. Hubbard is the director of the Jerome A. Chazen Institute for Global Business, Dean Emeritus, and Russell L. Carson Professor of Finance and Economics at Columbia Business School; and Santos is the director of the Heilbrunn Center for Graham and Dodd Investing and Robert Heilbrunn Professor of Asset Management and Finance at Columbia Business School. Sandi Wright, director of the Tamer Center for Social Enterprise, moderates the session. The session begins with Hubbard and Santos answering questions from host Professor Ray Horton based on three topics of critical importance that were addressed in previous episodes throughout the season: climate change, migration, and artificial intelligence. In each case, they answer the questions from the perspective of political economy rather than economics. The Columbia Business School faculty who addressed these issues in earlier episodes of season one comment on the remarks of Santos and Hubbard — Professors Bruce Usher and Gernot Wagner on climate change, Professor Dan Wang and postdoctoral research scholar Sandra Portocarrero on migration, and Professor Sandra Matz on artificial intelligence. Sandra Navalli OAM ’03, managing director of the Tamer Center for Social Enterprise, closes with comments on how this podcast provides a platform to discuss major global issues that elevate the public discourse around the modern political economy. The session ends with Horton asking Hubbard and Santos to predict who will be the winner of the 2024 presidential campaign. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . ____________________________________ Mentioned in this Episode , (Columbia Business School) , (Columbia Business School) , (Columbia Business School) , (Columbia Business School) , (Columbia Business School) , (Columbia Business School) , (Columbia Business School) , (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/30705613

How Social Entrepreneurs Are Building a Better Economy, With Sandra Navalli 03/08/2024

How Social Entrepreneurs Are Building a Better Economy, With Sandra Navalli This session of More MPE focuses on the increasing importance of social entrepreneurship and the unique role the Tamer Center for Social Enterprise plays in supporting social entrepreneurship in the United States and around the world. Our guest is Sandra Navalli OAM ’03, the managing director of the Tamer Center for Social Enterprise. She first proposed and now oversees the development of the distinctive and highly successful Tamer Fund for Social Ventures, which supports social entrepreneurs by drawing on the financial and human resources of the center, the Business School, and Columbia University at large. The conversation begins with Navalli explaining how the field of entrepreneurship differs from the subfield of social entrepreneurship before turning to a discussion of the Tamer Fund for Social Ventures. It provides seed grants to social and environmental startups of all kinds, including nonprofit, for-profit, and hybrid ventures. Competition for the grants is intense, with up to one hundred applications each semester for a total of seven grants each year. While financial support is a critical part of building a successful venture, according to Navalli another key area is the ability to draw on the diverse skills of students, faculty, and alumni from across the University — and not just from the Business School. Tamer Center staff and an investment board work with portfolio ventures to access university resources, including connecting them with experienced advisors and student talent. At one point she notes that before Warby Parker was a recognized brand, they found it harder to attract interest for open positions. The Tamer Fund for Social Ventures provides a reputational boost and a positive signaling effect for talented students and alumni who wish to work with mission driven ventures. The conversation ends with a discussion of the final session of More MPE, which will be a live session taking place on March 25 on the Manhattanville Campus. The session will feature a discussion of three professors of the Modern Political Economy Course — Glenn Hubbard, Tano Santos, and Ray Horton — drawing on key points taken from the individual sessions of the podcast. Listeners are invited to attend the live session and a reception afterward of students, faculty, and administrators. to receive an invitation. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode , (Columbia Business School) , (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/30259973

Can We Engineer Our Way Out of Global Warming? with Gernot Wagner 03/01/2024

Can We Engineer Our Way Out of Global Warming? with Gernot Wagner In another session devoted to climate change, we focus on an unconventional way of halting global warming known as solar geo-engineering. In this session, host Professor Ray Horton speaks with Gernot Wagner, faculty director of the Climate Knowledge Initiative at the Tamer Center for Social Enterprise and senior lecturer at Columbia Business School. Wagner is an expert in engineering solutions to the problem of climate change. The conversation with Wagner begins with the meaning of solar geo-engineering, a technique that promises to play a role in halting global warming by surrounding Earth with a shield that block the sun’s heat from entering the atmosphere. He describes the process of creating the shield as uncomplicated technically and very much cheaper than the sums involved in the wide range of policies designed to reduce fossil fuel consumption. Why then, the conversation continues, is solar geo-engineering not playing a role in fighting what is seen by many as an existential threat? Wagner advances what he calls a “green” moral hazard problem. Opponents, who for the most part are climate scientists and advocates of decarbonization policies, argue that investing in solar geo-engineering will reduce the pressure to deal with the real problem — reducing CO2 emissions. Wagner explains why he is somewhat skeptical of the moral hazard argument but acknowledges that much more needs to be known about the long-term effects on plant and animal life of blocking the sun. In the end Wagner calls for more research. Wagner is an important part of Columbia Business School’s commitment to put climate change at the center of its educational mission through teaching and research. He teaches the introductory course in the MBA program, which is already taken by one-half of the students; he is an active scholar and disseminator of research; and through the Climate Knowledge Initiative he is taking theory to practice by working with students to develop decarbonization strategies for select industries. The Climate Knowledge Initiative launches in 2024 thanks to support and leadership from N. Robert (Bob) Hammer ‘67. The Tamer Center for Social Enterprise applauds his vision and is pleased to present him with the 2024 Horton Award for Excellence in Climate and Social Impact. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode , (Columbia Business School) Climate Knowledge Initiative, (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/30174353

Talking Europe, with Tano Santos 02/23/2024

Talking Europe, with Tano Santos In this session of More MPE, host Professor Ray Horton speaks with Tano Santos about Europe. Santos is the director of the Heilbrunn Center for Graham and Dodd Investing and Robert Heilbrunn Professor of Asset Management and Finance at Columbia Business School. The conversation begins with talking about the major problems facing Europe today, which Santos believes are two-fold. The first and most obvious problem is the war between Russia and Ukraine. Europe has a huge stake in containing Russia’s desire to expand its influence westward, but Europe’s response to the invasion of Ukraine is muted by its economic dependence, particularly Germany’s, on Russian oil and gas. The second major problem facing Europe, China, is related to the first. To reduce its economic dependence on Russian oil and gas, not to mention to play a meaningful role in fighting global warming, Europe needs to dramatically increase its reliance on clean energy, solar energy particularly. But like the United States, Europe takes a distant back seat to China in the production of solar panels. Next, we discuss the major problems facing Europe tomorrow that nobody’s paying enough attention to today. Santos’s worries begin with concerns for the long-run economy. Europeans are aging, and it’s hard for economies to grow if the number of workers doesn’t grow. In theory, the migration of people from other countries could bolster the working-age population, but the reality is that migrants find it hard to enter European labor markets for a number of reasons. In theory, productivity gains due to technological advances could help solve the shortfall of workers, but the major technological change in the offing is AI, which Santos fears will bite heavily into the demand for workers in the advanced service sector. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode , (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/30053858

How “Woke” Should Business Leaders Be? with Vanessa Burbano 02/16/2024

How “Woke” Should Business Leaders Be? with Vanessa Burbano In this session of More MPE, we focus on an issue that bedevils many business leaders: Should they speak out on socio-political issues? Host Professor Ray Horton speaks with Vanessa Burbano, the Sidney Taurel Associate Professor of Business at Columbia Business School. Her award-winning research addresses the question. We began by talking about how she became interested in the question. Before entering academia, Burbano worked for several years in the private sector in positions that led her to wonder about the relationship between corporate social responsibility (CSR) and corporate profitability. Her early research on the response of employees to various CSR initiatives showed that employees were motivated by the policies to perform better on their jobs. Profitability increased because, for example, employees performed better and turned over less. She began to think about the “speaking out” issue when Chick-fil-A’s CEO took a public stance against gay marriage, a very “unwoke” thing to do that prompted a debate in business and academia over whether speaking out on “political” issues was a good strategy. Burbano’s instinct, drawing on her earlier research, was that it depended on how a firm’s employees felt about the position. It could have a motivating effect if they agreed and a demotivating affect if they didn’t. But her research yielded an asymmetric finding. Employees who agreed with the position were not motivated to perform better, while employees who disagreed performed worse. Ergo, Burbano’s research suggests that it’s better to stay silent at least from the perspective of profitability. But she recognizes there may be exceptions to this general rule, which is causing her to think about another wave of research. Some firms are not devoted to profit maximization; they value social goods too. Patagonia comes to mind for its explicit commitment to protecting the environment, which is said to reflect the values of its workforce. If Patagonia’s CEO stood silent on an environmental issue, wouldn’t its employees be demotivated? We end the session speculating about another phenomenon, the evidence that interstate migration of Americans is increasingly dictated by the red state-blue state litmus. Conservatives vacate blue states in favor of red states; vice-versa for liberals. If political conflict continues to grow in the United States, could the day come when workers choose their employers on the basis of their stances on political issues? Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode , (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/29959613

Will We Avoid Catastrophic Climate Change? with Bruce Usher 02/09/2024

The Redistributive Effects of AI on Profits and Politics, with Sandra Matz 02/02/2024

The Redistributive Effects of AI on Profits and Politics, with Sandra Matz Artificial intelligence, according to some, is far and away the most important innovation in history with the capacity to bring unprecedented good and unprecedented evil to humankind. In this episode of More MPE, host Professor Ray Horton speaks with Sandra Matz, the David W. Zalaznick Associate Professor of Business at Columbia Business School. Matz begins by distinguishing big data and artificial intelligence, the former being the raw material the latter uses for its designer’s purposes, which revolve around “profiling” individuals to identify who might be amenable to “targeting” for one purpose or another. She then provides examples, revolutionary examples, of how AI could be put to good use in fields like business and public health before turning to uses with disastrous consequences. The conversation turns to regulation, which at bottom involves the attempt by law to steer AI from bad uses. Congress is studying the issue In the United States, though the politics of regulating AI, like everything else, are very complicated in America. Matz notes that the European Union has implemented a regulatory regime that relies heavily on individuals to reclaim their once-private information, an approach she doesn’t believe goes far enough to limit profilers. In the final analysis, regulation by government will be difficult because the differences between good and bad uses are not black and white. Matz concludes that the key to regulating AI may lie in the form of data cooperatives where managers have a fiduciary relationship to act in the best interest of members. Finally, the discussion turns to the impact of AI on business education. At CBS, she notes that each of the School’s divisions is now offering courses on AI. She closes by noting that ChatGPT could develop the syllabus for a course on Modern Political Economy and somebody might replace the professors who teach the course. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode , (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/29737868

Dispelling the Myths of Global Migration, with Dan Wang and Sandra Portocarrero 01/26/2024

Dispelling the Myths of Global Migration, with Dan Wang and Sandra Portocarrero The world’s people are migrating in record numbers with wide-ranging effects on the nations they are leaving and entering. To discuss international migration are two students of the subject from Columbia Business School, migrants themselves. Dan Wang is the co-director of the Tamer Center for Social Enterprise and Lambert Family Associate Professor of Social Enterprise at Columbia Business School. Sandra Portocarrero is a postdoctoral research scholar at Columbia Business School, who studies undocumented entrepreneurs. The conversation begins with an overview of international migration, about which there is considerable misunderstanding. Americans may think that North America has long been the favored destination of migrants, but nearly twice as many have entered both Europe and Asia in the last half-century. And while the popular conception is that migrants are “pushed” out of their home country by war, political prosecution, or religious persecution, many are “pulled” by the ambition to better their standard of living. Misunderstanding of migration into the United States also abounds, in part the product of daily publicity accorded migrants trying to cross the Southern border illegally and often at great peril. Historically however, most illegal migrants entered the United States with visas and became illegal, or unauthorized, by overstaying them. Wang and Portocarrero also point out that many migrants reside in the United States legally and are employed as either skilled or unskilled workers. Lost amidst the political conflict over migrants is the fact that they play essential economic roles whether their residence is legal or not. The conversation moves next to the role of migrants in New York City. The number of migrants has increased dramatically in recent years; so has negative publicity to the effect that migrants are creating a fiscal crisis in local government and displacing New Yorkers in the labor market (both overstated concerns). Lost in the controversy is the reality that the city needs large numbers of immigrants to overcome labor shortages in key industries, including construction, nursing, home health care, and food services. The session ends with a discussion of how the Tamer Center is developing the capacity, through research and student outreach, to help develop the entrepreneurial skills of undocumented New Yorkers. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode (Columbia Business School) (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/29634763

Climate Change: Its Economic Impact and How We Should Respond, with Geoffrey Heal 01/19/2024

Climate Change: Its Economic Impact and How We Should Respond, with Geoffrey Heal In this episode of More MPE, host Professor Ray Horton speaks with Geoffrey Heal, faculty leader of the Sanford C. Bernstein & Co. Center for Leadership and Ethics and Donald C. Waite III Professor of Social Enterprise at Columbia Business School. More MPE devotes three sessions to climate change because it is the paramount issue facing the businesses, governments, and societies of the world. An economist and conservationist, Heal’s teaching and research has left an indelible mark on the School. That it stands out as the leader in business school education in climate change is due in large part to his work. The first question addressed in the session addresses foreseeable impacts of climate change, that is, consequences that are predictable absent the failure to mitigate global warming. One of the most obvious is sea level rise, which by the end of the century will cause 15 to 20 percent of the world’s population to relocate unless climate change is mitigated. The refugees will not only be people from countries like Bangladesh, but South Floridians whose homes are their primary assets will also be refugees. Animal life, and indirectly humanity, will be affected by the loss of a third of all species. Of course, not all such impacts lie in the future. The increasing number of international migrants, including many who are migrating to the United States, reflects the impact of climate change on agricultural productivity. Rising heat and humidity are already killing Indians and Pakistanis who labor without air conditioning. The next issue concerns progress being made to mitigate, or reduce, the baleful impacts of climate change, which essentially means the steps being taken to lower the stock of carbon dioxide in the atmosphere. There are three major sources of carbon dioxide emission — the generation of electricity, transportation, and heating. Considerable progress is being made in electrification; worldwide, 40 percent of electricity is now generated by non-carbon sources, including wind, solar, geothermal, hydro, and nuclear. Progress in reducing transportation emissions has been slower. Electric vehicles are coming to use much more rapidly in China and Europe than in the United States, where large, gas-guzzling vehicles are a cultural preference. The conversation turns to a discussion of the many political challenges to fighting climate change in the United States and abroad, including those on the political right who either deny the existence of climate change or believe that government should leave the fight to business. We end with a discussion of how climate change is being incorporated into the life of Columbia Business School. One such way is through the Climate Practitioner’s Network (CPN), a new initiative of the Tamer Center for Social Enterprise that helps alumni leaders in climate stay connected — to each other and to the latest innovations and talent at CBS. Interested alumni can learn more and . Alumni can also get involved through the School's . Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/29532553

Talking Politics, with Glenn Hubbard 01/12/2024

Talking Politics, with Glenn Hubbard In this episode of More MPE, host Professor Ray Horton speaks politics American-style with Glenn Hubbard, director of the Jerome A. Chazen Institute for Global Business; Dean Emeritus; and Russell L. Carson Professor of Finance and Economics at Columbia Business School. Hubbard is the School’s most knowledgeable observer of American politics. A practitioner too, his career with the School has been interrupted twice by important assignments in the nation’s capital. The conversation begins with a discussion of the meaning of political economy, which builds on the training of the host in political science, the guest in economics, and reflects both Horton and Hubbard’s experience teaching the popular elective course Modern Political Economy. One of the big issues in American politics is the rise of populism manifested in the form of Donald Trump. Hubbard traces this back to the decline in America’s manufacturing base caused by China’s ascendancy as a goods-producer in the late 20th century. Discussion then turns to whether populism will lead to authoritarianism, not just in the United States but Europe as well. The conversation shifts to the forthcoming presidential campaign and election. Hubbard is not convinced that Trump and Biden ultimately will be the candidates of their respective parties, though he confesses that he wouldn’t bet on it in the moment. Befitting his status as an old-school Republican, he has little good to say about Trump’s presidential record and nothing good to say about Biden’s. In the end he identifies his preferred candidate. The last part of the conversation revolves around changes in Columbia Business School during his deanship in the 2004-2019 period, including a clearer educational philosophy emphasizing the importance of translating theory into practice, the funding of the School’s two new buildings in the new Manhattanville campus, and the emergence of the Tamer Center as a critical asset of the School. In 2023, the School’s MBA program was ranked as the world’s best. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit , or drop us a line at . Mentioned in this Episode (Columbia Business School) More MPE is produced by . Special thanks to executive producers Sandi Wright and Hannah Slow. /episode/index/show/4cd6adb9-c9a1-4cab-8510-6102d749675c/id/29429768

More MPE Trailer w/ Sandi Wright and Ray Horton 12/12/2023

More MPE with Professor Ray Horton and Sandi Wright

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