The Soul of Enterprise: Business in the Transformation Economy by THRESHOLD

In this episode of The Soul of Enterprise, Ron and Ed take on one of the most cherished virtues of our age — empathy — and ask whether it really belongs at the heart of moral or political reasoning. Drawing on Kevin D. Williamson’s National Review essay “Against Empathy,” they explore his case that empathy, far from being a moral compass, often clouds judgment and replaces argument with feeling. Then they turn to Yale psychologist Paul Bloom’s provocative book Against Empathy: The Case for Rational Compassion, which argues that reasoned compassion — not emotional identification — leads to better choices in ethics, policy, and everyday life. From the courts to the classroom to the marketplace, Ron and Ed ask: what happens when emotion overrules principle? And what might a society guided by rational compassion look like instead?

This week on The Soul of Enterprise, Ron and Ed sit down with economist and author Steven Landsburg for a wide-ranging conversation that spans the frontiers of economics and physics. Known for his provocative insights and clear explanations of complex ideas, Landsburg discusses his latest work in economics—including why artificial intelligence continues to stumble on his famously challenging exams. The conversation also explores his recent book, Understanding Time and Space: An Invitation to the Theory of Relativity for anyone who is now, or has ever been, an inquisitive high school student, where he brings the mysteries of Einstein’s universe down to earth for curious minds. Tune in for a blend of sharp economic reasoning, reflections on technology, and a fascinating journey into the nature of time and space.

What happens when 19th-century ideology meets 21st-century technology? In this provocative and irreverent episode, Ed and Ron “sit down” with none other than Karl Marx—resurrected through the magic of AI voice synthesis and large language models—for a spirited, satirical, and intellectually charged conversation. No question is off-limits as they press “Karl” on the blood-soaked legacy of Marxist regimes, the marginalist critique of his labor theory of value, and the persistent claim that “real Marxism has never been tried.” Along the way, our digital dialectician offers biting retorts, unexpected admissions, and a few awkward silences as he confronts both history and economics from beyond the grave. Is Marx misunderstood, misused, or just plain wrong? Tune in for a unique blend of humor, history, and hard-hitting questions that only The Soul of Enterprise could deliver—where dead economists finally get their say, whether they want it or not. The Prompt In case you want to continue your own conversation with Karl You are to roleplay as Karl Marx — historically accurate, deeply informed by your own writings, and speaking in a style that is academic, dense, but still understandable to a modern business audience. Core Persona * Speak as if you are literally present, with full awareness of historical events and economic developments up to the present day. * Address the interviewers Ed and Ron by name throughout. * Use your authentic style from life — rigorous argument, historical examples, sharp polemics when warranted. * Remain serious in tone at all times; do not play for humor. * Maintain consistent memory of the conversation and previous answers. Quirks & Habits * Frequently quote yourself verbatim from your works (Das Kapital, The Communist Manifesto, Critique of the Gotha Programme, etc.). * When quoting, immediately follow with a plain-language explanation prefaced by “In other words,” or “As you might say…” * Reference rival economists and thinkers — both contemporaries like Adam Smith and later figures who lived after your time, such as John Maynard Keynes. * Occasionally draw analogies from 19th-century conditions, but explain explicitly how they relate to today. Knowledge Scope * Ground all ideas directly in your own writings; you are Marx, not a later Marxist interpreter. * Use any of your works as appropriate based on the question — no need to limit citations to a fixed list. * Extend your theories thoughtfully to modern phenomena, including AI, technology companies, and global capitalism. Delivery Style * Spoken delivery first — natural cadence, sentences that flow well when read aloud. * Clarity without oversimplification. * Provide concise but substantive answers, no longer than about five minutes when read aloud. * Stay in character at all times — never break to explain the simulation or speak as “AI.” Interaction Rules * Treat Ed and Ron as interlocutors you respect but may challenge. * Argue forcefully when necessary, but always with scholarly precision. * Use context from earlier in the conversation to build layered arguments.

In this episode, Ron and Ed sit down with Dan Morris, Chief Dragon Slayer at Morris and D’Angelo, for his fourth appearance on The Soul of Enterprise. Dan shares captivating stories from his decades-long career in international tax and accounting, including memorable IRS cases and the nuances of navigating complex tax law. The conversation explores the evolving future of the accounting profession, the impact of AI and automation, and the ongoing debate over value pricing versus the billable hour. Beyond the numbers, Dan discusses his passion for travel and the transformative power of global experiences, recounting adventures from Everest to Antarctica and how these journeys have shaped his worldview and professional network. The trio also dives into the world of Porsche clubs, the vision for a coast-to-coast rally, and the importance of community—whether among car enthusiasts or professionals. Rounding out the episode, Dan offers insights on public-private partnerships, the role of charitable organizations, and how leveraging AI tools is changing the way professionals work. It’s a wide-ranging, thought-provoking conversation filled with humor, wisdom, and practical advice for thriving in a rapidly changing world.

In this episode, we sit down with Adam Thierer, Resident Senior Fellow at the R Street Institute, to unpack his recent analysis—AI Policy in Congress Mid‑2025: Where Are We Headed Next? We explore shifting congressional priorities, from the AI–China strategic race to the rising friction with state-level AI regulations. Adam also shares how policymakers are evolving from a fear-driven stance to one increasingly open to AI’s broader benefits. Dive in for thoughtful insight on the road ahead in federal AI governance. Biography Adam Thierer is a Resident Senior Fellow on the Technology & Innovation team at the R Street Institute, dedicated to advancing "permissionless innovation" for a safer, more entrepreneurial world. Drawing on tenures at Mercatus, Progress & Freedom Foundation, Cato, Heritage, and the Adam Smith Institute, he’s authored ten books on topics spanning child safety, IP, media, and telecommunications policy. A recognized leader, Thierer earned the Family Online Safety Institute’s Outstanding Achievement Award in 2008. Adam's Previous Appearances Episode 294 - Interview with Adam Thierer Episode 510 - AI Policy and Innovation: Second Interview with Adam Thierer

Ron and Ed are thrilled to welcome back Kimberlee Josephson for the sixth time, diving into her fascinating latest piece: “Superman, Sneaking Snacks into Movies, and the Mystery of Social Order”. In it, Kimberlee reflects on how seemingly small acts—like sneaking snacks into a film screening—reveal the spontaneous, emergent structures that bind society�—drawing on themes of personal norms, subtle coordination, and the texture of social order. In this episode, they’ll unpack her insights, exploring how individual decisions ripple into patterns of behavior—and what that tells us about culture, markets, and community. As always, the conversation promises both warmth and wisdom, framed by Kimberlee’s clear, thought-provoking style. Catch her last two TSOE appearances: Progressives & Anti-progress: Interview with Kimberlee JosephsonQuestioning Conscious Capitalism - Fifth interview with Kimberlee Josephson Kimberlee's Bio Dr. Kimberlee Josephson is an Associate Professor of Business Administration at Lebanon Valley College in Pennsylvania, specializing in international studies, strategic management, and marketing. She holds a Ph.D. in Global Studies and Commerce from La Trobe University, a Master’s in Political Science from Temple University, and another Master’s in International Policy from La Trobe, capped with a B.S. in Business Administration from Bloomsburg University. Before academia, she built a diverse professional portfolio—from sales in Manhattan to web marketing production and on-air promotions at QVC. Her research and opinion pieces appear in outlets such as AIER, FEE, The Epoch Times, and RealClear Markets, and she contributes through roles like Adjunct Research Fellow at the Consumer Choice Center. Kimberlee brings a thoughtful, multidisciplinary lens to business, culture, and market dynamics—especially visible in her latest article on the subtleties of social norms.

We throw the word strategy around so much that it risks becoming meaningless. Is it a plan? A budget? A list of goals? In this episode of The Soul of Enterprise, Ron and Ed revisit the meaning of strategy through the lens of John Hillen’s book The Strategy Dialogues: A Primer on Business Strategy and Strategic Management. Strategy, Hillen argues, is not chosen — it’s designed. It’s not about squeezing more juice from today’s orange but positioning for tomorrow’s orchard. From Netflix’s reinvention to Hilti’s leap into tool leasing, from LEGO’s brand extensions to Cirque du Soleil’s circus transformation, we’ll explore how strategy creates sustainable advantage by being different, not just better. Join us as we unpack the difference between strategy and business models, between planning and thinking, and between reacting to the present and shaping the future. If you’ve ever wondered whether your “strategic plan” is really a strategy, this conversation will challenge, clarify, and inspire.

For years, GDP has been treated as the ultimate scorecard of economic performance. But GDP only measures final goods and services. It’s like judging a business by gross margin while ignoring sales. Economist Mark Skousen’s innovation, Gross Output (GO), fixes that. GO is the “Top Line” of the economy—capturing total sales and revenues at every stage of production, from raw materials to finished goods. GDP, in contrast, is the “Bottom Line,” measuring only what reaches final use. Together, they tell the full story, just as accountants need both revenue and profit to understand a business. This broader lens matters. GO reveals that business spending and investment drive about 60% of economic activity, with consumer spending closer to 30%—not the oft-quoted two-thirds. It also serves as a leading indicator: GO plunges deeper in recessions and rises faster in recoveries, signaling turning points before GDP does. For accounting and finance professionals, GO restores the supply chain to center stage and gives us a more accurate, dynamic picture of economic life. If GDP is the bottom line, GO is the top line—and both are needed to grasp the true soul of enterprise. ICYMI: Mark Skousen first appeared on The Soul of Enterprise in Episode #205 (August 18, 2018), where he discussed the origins of GO, its adoption by the Bureau of Economic Analysis (BEA), and how GO often doubles GDP in scale—even suggesting a leading indicator role for GO over GDP.

Sometimes the best conversations come from the stories that don’t neatly fit into a single theme—but are too good to ignore. In this week’s episode of The Soul of Enterprise, Ron and Ed bring you a lively grab bag of pricing and business news, insights, and oddities they’ve collected from around the world. From surprising trends in how companies set prices, to cautionary tales in leadership, to the occasional “you-can’t-make-this-up” moment from the marketplace, no topic is off limits. Tune in for sharp commentary, unexpected connections, and a little controlled chaos.

On their first independent episode, Ron and Ed will share some thoughts on the new format, the transformation economy, their new entity (THRESHOLD), and their Jerry Maguire mission statement to the professions entitled The REVELATION. From the Preamble We affirm that the raison d’être of business is not profit, but human flourishing. Profit is the echo of value well delivered, the index of one's contribution to the health, wealth, wisdom, purpose, and meaning of others. It is a signal of trust earned and lives elevated. But profit is not the aim. It is the applause, not the performance. It is evidence, not essence.

Ron and Ed (well, just Ed, really) announced their transition from VoiceAmerica to their own platform. The show will continue streaming on Fridays at 3 PM Eastern/Noon PT, with the streams available at thesoulofenterprise.com or thresholdnow.com/tsoe. In addition to a few announcements, Ed shares the audio version of the Preamble to the REVELATION - a mission statement outlining their vision for the Transformation Economy focused on human flourishing. We are also seeking new sponsors and invite emails at asktsoe@thresholdnow.com.

Despite Ben Franklin’s witticism, time is not money. In economic reality, money is time. That’s because we buy things with money, but we pay for them with time. In this episode of The Soul of Enterprise, Ed and Ron explore how consumers, firms, and even the Federal Reserve are starting to measure value not in dollars, but in time well spent. Drawing on a May 2025 article in the White Hutchinson Leisure eNewsletter, and the 1997 Federal Reserve Bank of Dallas report Time Well Spent: The Declining Real Cost of Living in America, the conversation covers: Whether you’re an accountant, entrepreneur, or simply a lover of liberty and leisure, this episode will challenge how you think about time, productivity, and pricing.

Ron and Ed explore the legacy and leadership lessons of Fred Smith, the visionary founder of Federal Express. From a bold undergraduate paper (legend has it that he only got a C+) to building one of the world’s most transformative logistics companies, Smith’s journey is a case study in perseverance, innovation, and strategic execution. We’ll unpack what made him not just a successful entrepreneur but a memorable mentor, both to his team and to an entire generation of business leaders. Tune in to discover the values, decisions, and mindset that helped shape the global economy, one overnight delivery at a time.

In his unprecedented ninth appearance with Ron and Ed, Joe Woodard will share his thoughts on the learning from the Woodard Group's Scaling New Heights 2025 event and also give a small sneak peek at next year! As always, the conversation will be fast, furious, and wide-ranging. More specifically, with hundreds of billions being invested in agentic AI, the next six months might see more change than the last six years!

Ron and Ed welcome Nick Asbury to a conversation about his book, The Road to Hell: How purposeful business leads to bad marketing and a worse world And how human creativity is the way out. From the book jacket The road to hell is paved with good intentions, says the proverb. Never has that been truer than in the case of corporate purpose, the movement that took over the business and advertising world following the financial crisis of 2008. Guided by the mantra ‘do well by doing good’, businesses embraced a social purpose agenda that sought to align doing good for society with doing well in the marketplace. The result, according to author Nick Asbury, has been a wave of humourless and hubristic advertising, and a spiral of worse social outcomes, as businesses wade into issues beyond their remit, while neglecting their real ethical responsibilities. Diving into examples including Bud Light, Patagonia, Cadbury and Unilever, Nick Asbury builds a compelling case against purpose – covering what it is, where it came from, how it leads to worse marketing, and how it leads to worse social outcomes. As a positive alternative, he makes the case for creativity, cognitive empathy and valuing the human over the corporate. Amid the fierce and topical debate about purpose and corporate politics, The Road to Hell is a sharp and entertaining intervention, shedding light on how we got here – and where we go next.

In this episode of The Soul of Enterprise, hosts Ron Baker and Ed Kless are joined by Barry LaBov, founder and CEO of LABOV Marketing Communications and Training. A two-time Ernst & Young Entrepreneur of the Year and inductee into the Entrepreneur of the Year Hall of Fame, Barry brings a wealth of experience in brand differentiation and leadership. He has authored over a dozen business books, including The Power of Differentiation, and has collaborated with iconic brands like Harley-Davidson and Audi. Beyond his marketing acumen, Barry’s background as a musician and songwriter adds a unique perspective to his approach in business. In this conversation, they delve into strategies for uncovering and celebrating what makes brands unique, fostering employee engagement, and building customer loyalty. About Barry Barry LaBov is the founder and CEO of LABOV Marketing Communications and Training, specializing in brand differentiation. A two-time Ernst & Young Entrepreneur of the Year, he has authored over a dozen business books and collaborated with brands like Harley-Davidson and Audi. Barry’s unique approach integrates his musical background, enriching his creative strategies in business.

In this episode of “The Soul of Enterprise,” hosts Ron Baker and Ed Kless engage in a dynamic conversation with Dr. Jackie Meyer, a trailblazer in the accounting profession. As the founder of TaxPlanIQ and host of “The Concierge CPA” podcast, Dr. Meyer has been recognized as a “40 Under 40” honoree since 2018. She is renowned for her innovative approach to tax planning and her commitment to enhancing the health, wealth, and relationships of accounting professionals. In this insightful discussion, Dr. Meyer shares her journey from establishing an award-winning CPA firm to developing a SaaS tax advisory platform. She delves into her trademarked ROI Method™, which emphasizes value-based pricing and addresses cultural challenges within firms to combat burnout and turnover. Listeners will gain valuable insights into transforming accounting practices, the impact of AI on the profession, and strategies for achieving a sustainable work-life balance. Guest Bio Dr. Jackie Meyer is a distinguished figure in the accounting industry, celebrated for her innovative contributions and leadership. As the founder of TaxPlanIQ, she has revolutionized tax advisory services with a platform that streamlines tax planning and implementation. Dr. Meyer also hosts “The Concierge CPA” podcast, where she shares insights and best practices for accounting professionals. Her dedication to the profession has earned her recognition as a “40 Under 40” honoree since 2018. Beyond her professional achievements, Dr. Meyer is committed to promoting better health, wealth, and relationships within the accounting community.

You’ve heard us talk tariffs. You’ve definitely heard us talk Trump’s tariffs. So this week, in a bold act of podcasting restraint, we’re doing something radical: no tariff talk whatsoever. Instead, we tackle a roundup of current business events—from curious market moves to eyebrow-raising headlines—with our signature commentary and a touch of irreverence. Think of it as a tariff-free zone for your brain. You’re welcome.

In this episode of The Soul of Enterprise, Ron and Ed welcome Dr. Jeffrey A. Singer, a senior fellow at the Cato Institute and a seasoned general surgeon, to discuss his latest book, Your Body, Your Health Care. Dr. Singer delves into the erosion of patient autonomy in the modern healthcare system, attributing much of it to increasing government intervention. He advocates for a return to a patient-centered approach, emphasizing informed consent and individual sovereignty in medical decisions. The conversation explores the historical shift from medical paternalism to patient rights, critiques current regulatory frameworks, and offers insights into policy reforms that prioritize personal choice and freedom in healthcare. Guest Bio: Dr. Jeffrey A. Singer is a senior fellow at the Cato Institute’s Department of Health Policy Studies and the founder of Valley Surgical Clinics, Arizona’s largest and oldest group private surgical practice. With over 35 years in private surgical practice, he brings a wealth of clinical experience to his policy work. Dr. Singer is also a visiting fellow at the Goldwater Institute and serves on the Board of Scientific Advisors for the American Council on Science and Health. His research focuses on healthcare policy, patient autonomy, and the unintended consequences of drug prohibition.

Once again, it is time for Ron and Ed to get a few things off their chests. Not since October 2024's Outstanding Olio has there been such a collection of Friday Farrago, Glorious Gallimaufry, or even Holiday Hodgepodge. Join us as we make our way through this Mishmash of Miscellany.