Day By Day

Tuesday, March 10, 2009

Masters of Disaster

Who should we blame for the financial catastrophe? Philip Delves Broughton thinks he knows -- the Harvard Business School.

Broughton, who has an MBA from Harvard notes that the paradigms of effective business management touted by the Harvard faculty in recent years were first Enron, and when that collapsed, the Royal Bank of Scotland. Both of these were disasters and the inability of the Harvard faculty to see their problems suggests that something is rotten in the realm of Cambridge, MA.

The cult of expertise repeatedly assures us that the "best and the brightest" -- those holding prized degrees from prestige universities, can be trusted to manage society and the economy for the benefit of all. Experience suggests otherwise.

Read Broughton's damning indictment here.