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LONDON and PHILADELPHIA, September 12, 2025 – The PRI Academy and Wharton Executive Education are announcing the launch of a new executive education program, the Wharton/PRI Executive Certificate: Impact, Value and the Materiality of Sustainability, designed to equip investment professionals with the tools and insights needed to navigate today’s complex financial landscape. The course is being announced in the run-up to New York Climate

PHILADELPHIA, July 9, 2025 PHILADELPHIA, July 9, 2025 – Wharton Online today announced the launch of Leading an AI-Powered Future, a self-paced online executive program designed to equip professionals at every stage of their careers with the practical skills and confidence to lead in an era defined by artificial intelligence.As AI continues to transform industries and workplaces around the globe, there is growing demand for le

re growing companies better off acting on new, innovative ideas — or scaling their existing ones? In “Capital, Ideas, and the Costs of Financial Frictions,” Professor Thomas Winberry explores how firms balance investment in current operations with the pursuit of future innovations. This paper earned the 2024 Marshall Blume Prize in Financial Research, awarded by the Rodney L. White Center for Financial Research, and is part of the Jacobs Lev

Summary: The current Social Security program faces a significant shortfall, equal to 4.2 percent of all future covered payroll over the next 75 years. This shortfall persists under alternative and favorable projections of fertility, interest rates, immigration and the projected impact of AI on future wages.Key Points:Modeling: PWBM uses a detailed microsimulation model to project Social Security’s future revenue and spending. The model

Summary:PWBM estimates that the COVID-era Employee Retention Credit (ERC) will have cost more than $300 billion when the IRS finishes processing claims later in 2025, nearly four times the initial projected cost. Most of the ERC was paid retroactively, well after pandemic-related economic disruptions had ended, limiting its effectiveness as a worker retention incentive.Key Points:1. The Joint Committee on Taxation (JCT) initially projected that t