Business School and the Noble Purpose of the Market
Correcting the Systemic Failures of Shareholder Capitalism
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"Today's business schools were designed for a world that no longer exists. That world elevated the primacy of shareholder profits above the interests of employees, the environment, and society; viewed government as an intrusion on the free market rather than an arbiter of its proper functioning; and promoted unlimited economic growth despite the devastating environmental and economic consequences. And yet, the past 150 years of capitalism can be credited with raising the standard of living for millions of people by increasing the world economy by a factor of 14, tripling the global per capita ...
"Today's business schools were designed for a world that no longer exists. That world elevated the primacy of shareholder profits above the interests of employees, the environment, and society; viewed government as an intrusion on the free market rather than an arbiter of its proper functioning; and promoted unlimited economic growth despite the devastating environmental and economic consequences. And yet, the past 150 years of capitalism can be credited with raising the standard of living for millions of people by increasing the world economy by a factor of 14, tripling the global per capita income, extending average life expectancy by almost two-thirds and decreasing the number or people living in extreme poverty from 56% in 1920 to 10% today. Business School and the Noble Purpose of the Market explains how b-school students, faculty, and administrators can think differently and hopefully about reforming capitalism and the global marketplace, starting with business school education. Eminent business scholar Andrew J. Hoffman describes how students and faculty can adapt, and develop the skills, knowledge and wisdom business leaders need now to deal with planetary challenges such as climate change, widening income inequality, and social unrest. Gen Z b-school students see the problems with neoliberal capitalism, they care about climate change and inequality, and they are more values-driven than previous generations. The book will inspire them to use their business education and career to align with their values. For faculty and administrators who also have a sense of "management as a calling" the book offers an inspiring program for reinventing business school curriculum, and turning the power of business and the global market toward a constructive new role in society"--
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