Professor Calls To Abolish Business Schools For Failing Society

joshuark writes: Professor Christopher Marquis makes a provocative argument about business schools: "We need to abolish them." A 20-year business educator at Harvard, Cornell and Cambridge, Marquis argues in The New York Times and on LinkedIn that MBA programs sanctify profit-driven dealmaking at the expense of public life. "That's not the institution failing," he writes. "Sadly, it's the institution working." "Business school doesn't just hand out skills and a network," argues Marquis, "it quietly reshapes how people see the world, rewarding dealmaking, simplification, and optimization for financial metrics, while workers and communities become afterthoughts." Marquis points to research suggesting that business-school-trained CEOs often benefit shareholders at the expense of workers, without delivering measurable improvements in company performance... "[W]hen a business-school-trained CEO takes over a firm, wages fall and labor's share of income drops, with no gain in productivity," writes Marquis. "In both the U.S. and Denmark, what passes for the 'managerial skill' of business-school graduates turns out to be a transfer of wealth away from workers and toward shareholders. Students deserve better than a machine that narrows their sense of what's possible."

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