Value in an Uncertain Economy: 474th Convocation at the University of Chicago

On August 29, 2003 I spoke at the 474th Convocation at the University of Chicago about uncertainty and the future. I talk about the consequences of making investments like coming to the University of Chicago, and how although the value of these investments is hard to predict, such uncertainty alters the decisions we make and our value as determined by a market economy. I speculate about ways to model how a population like the 2003 graduating class will interact in an economic environment in order to predict what the collective consequences are of that interaction.