NY Times - “The Harvard Business School became (and remains) so intoxicated with its own importance that it blithely assumed away one of the most important questions it could ask, which was whether the capitalist system it was uniquely positioned to help improve was designed properly for the long term,” [Duff]. McDonald writes in the book [The Golden Passport], to be released in two weeks.
His answer? “With economic inequality at a hundred-year high and meaningful progress on climate change and other social and environmental issues embarrassingly paltry, the answer to that question is obvious. It is not.”
Citing a report from the Aspen Institute, Mr. McDonald explains that “when students enter business school, they believe that the purpose of a corporation is to produce goods and services for the benefit of society.”
“When they graduate,” he continues, “they believe that it is to maximize shareholder value.”