Lauder Institute Marks One Year of the All Else Equal Podcast

Published November 17, 2025

Two individuals are seated at a table, each with a microphone above them. The text reads "All Else Equal: Making better decisions." Logos for The Lauder Institute, Wharton, University of Pennsylvania, and Stanford Business are present.

The All Else Equal: Making Better Decisions podcast has marked its one-year milestone as a Lauder Institute–Stanford GSB collaboration. Co-hosted by Lauder Institute Director Jules van Binsbergen and fellow finance professor Jonathan Berk, the podcast examines today’s most pressing business and policy issues through the lens of leadership and decision-making.

To celebrate the anniversary, the Institute is highlighting three recent episodes that capture the range and depth of the discussions our listeners value most:

Is It Better to Overestimate or Underestimate Your Enemies?
Former National Security Advisor H.R. McMaster provides expert insight into why nations like the U.S. tend to overestimate their adversaries and what that reveals about intelligence gathering and policy priorities. The wide-ranging discussion — covering American history, the security implications of China and India’s economic growth, and the ways world leaders deploy information and influence to shape geopolitical outcomes — offers a masterclass in strategic thinking.

When (and When Not) To Listen to Investment Advice
In a world awash with self-styled gurus and market pundits, discerning credible advice is harder than ever. Finance professors and co-hosts Jonathan Berk and Jules van Binsbergen put popular investment advice to the test — helping listeners judge the quality of stock tips, assess the risks of private investing, and think critically about where to place their trust (and capital).

Why Higher Education Needs a Massive Overhaul
Economist Bryan Caplan joins the hosts to discuss his book The Case Against Education. In it, he argues that higher education is less about what you’re learning, and more about signaling to future employers that you’ll be a good hire. Through this discussion, they debate how higher education can evolve to better prepare students for the real world — exploring how rigorous, relevant teaching, not just credentials, can unlock the true value of education for individuals and society alike.

Episodes of All Else Equal are available on all major podcast platforms, including Apple Podcasts, Spotify, YouTube, and the Lauder Institute website.