Do MBAs harm the economy?
No, it’s not a joke. The Economist were debating if the economy would be better off without MBAs. Have some fun and watch, or rather read, this short video on opinions voiced in their recent debate:
The video speaks for itself and looks at both sides of the coin.
Needless to say the debate took place because MBAs are blamed for calculating financial instruments that contributed to, or caused, the financial crisis.
Bloomberg Businessweek made a survey to find out if MBAs make better CEOs. They found that roughly 40 percent of the S&P 500 chief executives have MBAs. Half of the top 10 CEOs had MBAs. In other words their findings are on par with what The Economist debate concluded about MBAs.
Do you agree with the The Economist and Bloomberg Businessweek that it’s 50-50 if an MBA makes a difference or not? Or are you of the opinion that MBAs are good for the economy? Or do they harm it? Would we have avoided the recent financial crash if MBAs had not made faulty calculations? Or would it have happened anyway? Maybe a bit later? Should companies keep a close eye on MBA students straight out of university to avoid faulty calculations? Or should they be allowed to be as innovative as possible?
Video: EconomistMagazine – You Tube