{"id":3253,"date":"2025-02-09T11:26:39","date_gmt":"2025-02-09T16:26:39","guid":{"rendered":"https:\/\/bhide.net\/wordpress_files\/?p=3253"},"modified":"2025-02-08T19:41:52","modified_gmt":"2025-02-09T00:41:52","slug":"fun-chat-with-greg-lablanc","status":"publish","type":"post","link":"https:\/\/bhide.net\/wordpress_files\/index.php\/fun-chat-with-greg-lablanc\/","title":{"rendered":"Fun Chat with Greg LaBlanc"},"content":{"rendered":"\r\n<div id=\"siteWrapper\" class=\"clearfix site-wrapper\"><main id=\"page\" class=\"container\" role=\"main\">\r\n<article id=\"sections\" class=\"sections\" data-page-sections=\"5fee95bea6a0ae63d6b5f733\">\r\n<section class=\"page-section \r\n    \r\n      content-collection\r\n      full-bleed-section\r\n      collection-type-blog-basic-grid\r\n    \r\n    background-width--full-bleed\r\n    \r\n      section-height--small\r\n    \r\n    \r\n      content-width--wide\r\n    \r\n    horizontal-alignment--center\r\n    vertical-alignment--middle\r\n    \r\n      \r\n    \r\n    \r\n    bright\" data-test=\"page-section\" data-section-theme=\"bright\" data-section-id=\"5fee95bea6a0ae63d6b5f735\" data-controller=\"SectionWrapperController\" data-current-styles=\"{\r\n&quot;imageOverlayOpacity&quot;: 0.15,\r\n&quot;backgroundWidth&quot;: &quot;background-width--full-bleed&quot;,\r\n&quot;sectionHeight&quot;: &quot;section-height--small&quot;,\r\n&quot;customSectionHeight&quot;: 10,\r\n&quot;horizontalAlignment&quot;: &quot;horizontal-alignment--center&quot;,\r\n&quot;verticalAlignment&quot;: &quot;vertical-alignment--middle&quot;,\r\n&quot;contentWidth&quot;: &quot;content-width--wide&quot;,\r\n&quot;customContentWidth&quot;: 50,\r\n&quot;sectionTheme&quot;: &quot;bright&quot;,\r\n&quot;sectionAnimation&quot;: &quot;none&quot;,\r\n&quot;backgroundMode&quot;: &quot;image&quot;\r\n}\" data-current-context=\"{\r\n&quot;video&quot;: {\r\n&quot;playbackSpeed&quot;: 0.5,\r\n&quot;filter&quot;: 1,\r\n&quot;filterStrength&quot;: 0,\r\n&quot;zoom&quot;: 0,\r\n&quot;videoSourceProvider&quot;: &quot;none&quot;\r\n},\r\n&quot;backgroundImageId&quot;: null,\r\n&quot;backgroundMediaEffect&quot;: null,\r\n&quot;divider&quot;: null,\r\n&quot;typeName&quot;: &quot;blog-basic-grid&quot;\r\n}\" data-animation=\"none\">\r\n<div class=\"content-wrapper\">\r\n<div class=\"content\">\r\n<div class=\"blog-item-wrapper blog-basic-grid-item-wrapper\" data-content-field=\"main-content\" data-item-id=\"\">\r\n<article id=\"article-\" class=\"h-entry entry hentry post-type-\">\r\n<div class=\"blog-item-inner-wrapper\">\r\n<div class=\"blog-item-top-wrapper\">\r\n<div class=\"blog-item-meta-wrapper\">\r\n<div class=\"blog-item-author-date-wrapper\" data-animation-role=\"date\"><time class=\"dt-published blog-meta-item blog-meta-item--date\" datetime=\"Feb 6\" data-content-field=\"published-on\">\u00a0<\/time><\/div>\r\n<\/div>\r\n<\/div>\r\n<div class=\"blog-item-content-wrapper\">\r\n<div class=\"blog-item-content e-content\">\r\n<div id=\"item-67a4340afddc0e326f403814\" class=\"sqs-layout sqs-grid-12 columns-12\" data-layout-label=\"Post Body\" data-type=\"item\">\r\n<div class=\"row sqs-row\">\r\n<div class=\"col sqs-col-8 span-8\">\r\n<div id=\"block-4ebeff9f4151219165f3\" class=\"sqs-block embed-block sqs-block-embed\" data-block-json=\"{&quot;html&quot;:&quot;&lt;iframe height=\\&quot;200px\\&quot; width=\\&quot;100%\\&quot; frameborder=\\&quot;no\\&quot; scrolling=\\&quot;no\\&quot; seamless src=\\&quot;https:\/\/player.simplecast.com\/7e9138d3-1b63-4280-bf3f-224307abe18b?dark=false\\&quot;&gt;&lt;\/iframe&gt;&quot;,&quot;resolvedBy&quot;:&quot;manual&quot;,&quot;customThumbEnabled&quot;:false}\" data-block-type=\"22\">\r\n<div class=\"sqs-block-content\"><iframe loading=\"lazy\" src=\"https:\/\/player.simplecast.com\/7e9138d3-1b63-4280-bf3f-224307abe18b?dark=false&amp;wmode=opaque\" width=\"100%\" height=\"200px\" frameborder=\"no\" scrolling=\"no\" seamless=\"\" data-embed=\"true\"><\/iframe><\/div>\r\n<\/div>\r\n<div id=\"block-e8b2a2e1d960edaecc47\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\" data-border-radii=\"{&quot;topLeft&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;value&quot;:0.0},&quot;topRight&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;value&quot;:0.0},&quot;bottomLeft&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;value&quot;:0.0},&quot;bottomRight&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;value&quot;:0.0}}\">\r\n<div class=\"sqs-block-content\">\r\n<div class=\"sqs-html-content\">\r\n<p class=\"\" style=\"white-space: pre-wrap;\">What is the difference between risk and uncertainty? Why does mainstream economics often overlook uncertainty altogether?<\/p>\r\n<p class=\"\" style=\"white-space: pre-wrap;\">Amar Bhid\u00e9 is a professor of Health Policy and Management at Columbia University, professor emeritus at Tufts University, and the author of several books, his latest of which is entitled, <em>Uncertainty and Enterprise: Venturing Beyond the Known<\/em>.<\/p>\r\n<p class=\"\" style=\"white-space: pre-wrap;\">Greg and Amar discuss Amar\u2019s recent book, which ties together threads from his previous works such as <em>A Call for Judgment: Sensible Finance for a Dynamic Economy<\/em> and <em>The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World<\/em>. They delve into the concept of uncertainty in economics, touch on the roles of imagination and evidence in decision-making, and discuss the limitations of current economic models and theories. Greg and Amar also examine the importance of storytelling and narrative in understanding and teaching economics and business.<\/p>\r\n<h3 style=\"white-space: pre-wrap;\"><strong>Episode Quotes:<\/strong><\/h3>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><strong>A well-functioning board questions assumptions<\/strong><\/p>\r\n<blockquote>\r\n<p class=\"\" style=\"white-space: pre-wrap;\">11:40:A well-functioning board is questioning the assumptions, beliefs, and imaginations of the CEO and whatever the CEO has come up with. And these things, somebody cannot explain plausibly under standard economic models. Yet, they have clearly observable differences in what they produce. So the differences in these routines, I would argue, distinguish between the kinds of projects that an entrepreneur undertakes on his or her own. They distinguish between the kinds of projects that an angel investor is willing to undertake but a VC is not, and the kinds of projects that a VC is willing to undertake but the large corporation is not.<\/p>\r\n<\/blockquote>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><strong>Using imagination as a bridge between the past and the future<\/strong><\/p>\r\n<blockquote>\r\n<p class=\"\" style=\"white-space: pre-wrap;\">24:12: If you want a bridge between what we know about the past and how we want to act vis-\u00e0-vis the future, we have to use imagination. And in the use of that imagination, the past provides the evidence; the imagination provides the bridge to what we do not know.<\/p>\r\n<\/blockquote>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><strong>Balancing evidence and imagination in case discussions<\/strong><\/p>\r\n<blockquote>\r\n<p class=\"\" style=\"white-space: pre-wrap;\">57:06: A good case discussion is also teaching people how to discuss. But how to swap imaginations is not discourse in algebra; it is not discourse using statistics; it\u2019s discourse using similes, metaphors, and analogies. How one balances evidence and imagination is such a vital skill in so many fields.<\/p>\r\n<\/blockquote>\r\n<h3 style=\"white-space: pre-wrap;\"><strong>Show Links:<\/strong><\/h3>\r\n<h4 style=\"white-space: pre-wrap;\"><strong>Guest Profile:<\/strong><\/h4>\r\n<ul data-rte-list=\"default\">\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.publichealth.columbia.edu\/profile\/amar-bhide\"><span style=\"text-decoration: underline;\">Faculty Profile at Columbia University<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/fletcher.tufts.edu\/people\/faculty\/amar-bhide\"><span style=\"text-decoration: underline;\">Faculty Profile at Tufts University<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/bhide.net\/wordpress_files\/\"><span style=\"text-decoration: underline;\">Bhide.net Homepage<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.linkedin.com\/in\/amar-bhide-8202ba10\/\"><span style=\"text-decoration: underline;\">LinkedIn Profile<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/x.com\/amar_bhide?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\"><span style=\"text-decoration: underline;\">Social Profile on X<\/span><\/a><\/p>\r\n<\/li>\r\n<\/ul>\r\n<h4 style=\"white-space: pre-wrap;\"><strong>His Work:<\/strong><\/h4>\r\n<ul data-rte-list=\"default\">\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.amazon.com\/stores\/Amar-Bhide\/author\/B003X0BYLI?ref=sr_ntt_srch_lnk_1&amp;qid=1738311299&amp;sr=1-1&amp;isDramIntegrated=true&amp;shoppingPortalEnabled=true\"><span style=\"text-decoration: underline;\">Amazon Author Page<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.amazon.com\/Uncertainty-Enterprise-Venturing-Beyond-Known-ebook\/dp\/B0DM9L5J26\/?_encoding=UTF8&amp;pd_rd_w=gL4f6&amp;content-id=amzn1.sym.bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_p=bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_r=138-3907522-9755351&amp;pd_rd_wg=gvB20&amp;pd_rd_r=6674e9dc-ca06-4448-bd72-68ed642e92c2&amp;ref_=aufs_ap_sc_dsk\"><span style=\"text-decoration: underline;\">Uncertainty and Enterprise: Venturing Beyond the Known<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.amazon.com\/Call-Judgment-Sensible-Finance-Dynamic-ebook\/dp\/B00440CQX6\/?_encoding=UTF8&amp;pd_rd_w=gL4f6&amp;content-id=amzn1.sym.bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_p=bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_r=138-3907522-9755351&amp;pd_rd_wg=gvB20&amp;pd_rd_r=6674e9dc-ca06-4448-bd72-68ed642e92c2&amp;ref_=aufs_ap_sc_dsk\"><span style=\"text-decoration: underline;\">A Call for Judgment: Sensible Finance for a Dynamic Economy<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.amazon.com\/Venturesome-Economy-Innovation-Prosperity-Entrepreneurship-ebook\/dp\/B001O2ST5Q\/?_encoding=UTF8&amp;pd_rd_w=gL4f6&amp;content-id=amzn1.sym.bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_p=bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_r=138-3907522-9755351&amp;pd_rd_wg=gvB20&amp;pd_rd_r=6674e9dc-ca06-4448-bd72-68ed642e92c2&amp;ref_=aufs_ap_sc_dsk\"><span style=\"text-decoration: underline;\">The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/www.amazon.com\/Origin-Evolution-New-Businesses-ebook\/dp\/B0058C6FOK\/?_encoding=UTF8&amp;pd_rd_w=gL4f6&amp;content-id=amzn1.sym.bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_p=bc3ba8d1-5076-4ab7-9ba8-a5c6211e002d&amp;pf_rd_r=138-3907522-9755351&amp;pd_rd_wg=gvB20&amp;pd_rd_r=6674e9dc-ca06-4448-bd72-68ed642e92c2&amp;ref_=aufs_ap_sc_dsk\"><span style=\"text-decoration: underline;\">The Origin and Evolution of New Businesses<\/span><\/a><\/p>\r\n<\/li>\r\n<li>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><a href=\"https:\/\/scholar.google.com\/citations?user=jiszogMAAAAJ&amp;hl=en\"><span style=\"text-decoration: underline;\">Google Scholar Page<\/span><\/a><\/p>\r\n<p class=\"\" style=\"white-space: pre-wrap;\"><span style=\"white-space: normal;\"><a href=\"\/episodes?author=5fed450a4fa6a530d78f8003\">\u00a0<\/a><\/span><\/p>\r\n<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/article>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/section>\r\n<\/article>\r\n<\/main><\/div>\r\n<!-- Summary Block Autoplay -->","protected":false},"excerpt":{"rendered":"<p>\u00a0 What is the difference between risk and uncertainty? Why does mainstream economics often overlook uncertainty altogether? Amar Bhid\u00e9 is<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":"","_links_to":"","_links_to_target":""},"categories":[39,33],"tags":[42],"class_list":["post-3253","post","type-post","status-publish","format-standard","hentry","category-knightian-uncertainty-book","category-opeds-and-media","tag-uncertainty"],"_links":{"self":[{"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/posts\/3253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/comments?post=3253"}],"version-history":[{"count":10,"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/posts\/3253\/revisions"}],"predecessor-version":[{"id":3263,"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/posts\/3253\/revisions\/3263"}],"wp:attachment":[{"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/media?parent=3253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/categories?post=3253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bhide.net\/wordpress_files\/index.php\/wp-json\/wp\/v2\/tags?post=3253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}