From today's NY Times, interesting piece on what role business schools may have had in arriving at the current financial situation and what they may do to change in the future.
It will be interesting to see how the cultural change that occurs because the events of the past year (since the collapse of Bear). Will schools be able to provide training that supports more responsible capitalism or (more likely in my opinion) will society create its own (free-market) solution?
Like any good capitalist I believe the market will create its own behavioral change that re-adjusts measures of business success to include more then a bottom line view. For instance, people will focus on finding companies that make understandable profit and companies that they perceive as being more stable and less focused on immediate short term profit. Therefore, companies with inconceivable profit will be avoided by investors, lose their stream of capital and eventually fall into line. The role of business schools is minimal, companies will figure it out for themselves.
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