Monday, March 23, 2009

Are business schools failing us?

I used to share with a chappie in London who told me one day, "Damian, it's an Oxford world."
We'd been having a discussion about education and universities--I went to what's called in the UK "a redbrick university" and he went to "Oxbridge."

Of course, it was an arrogant remark and I told him so. But it seems to me that remark would now give him a huge bite in the ass.

Aside from the fact it would be more accurate to say "It's a Harvard world", I got to thinking this weekend about what the remark really meant in the context of our so-called elite business schools in the United States, places like the Wharton School, etc.
My conclusion is these business schools have failed this nation.

Why?

Because they have failed to instil values and morals into the men and women streaming out of these institutions into fat cat jobs in Wall Street. It's these same people in pursuit of the almighty dollar (an oxymoran) who caused the financial and world crisis we now finds ourselves in.

And I think I know of what I speak. Because, as a trained attorney, I can honestly say that courses on morality and working for the common good were scant, any teaching on them confined to a mere sixty minutes at most.

So American education needs to get back to the basics and expunge this whole glorified homage greed and 'Individualism'. It's time to teach the next generation attending these ivory towers about doing what's right in life and what;'s good for society.

And one aside. I do not like the Congress imposing punitive taxes against the greedy fat cats who received millions in bonuses not earned. I'd rather we started criminal and civil procedures against these people for negligence, theft and breach of fiduciary duties to their corporations. It can easily be done and that's how we get the money back and these rascals are made to pay.

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