Business is by far the most popular college major in America. But are business schools training young people to build and lead more equitable enterprises, or churning out apparatchiks whose main function is to serve shareholders? An alarming recent study from the National Bureau of Economic Research reports that business school-educated executives do not improve corporate performance — but they do lower wages. Is business education inherently anti-labor and pro-investor? And how should business education change to meet the aspirations of Gen Z, which is more diverse, better educated, and far more progressive than prior generations?
This question has a new urgency today, as the basic structure of business is being fundamentally transformed by new technologies that have disrupted how companies raise capital, recruit and deploy labor, manage supply chains, and get products to customers.