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NOTEBOOK – ONE GOOD READ: Even business school students have doubts about capitalism


It might not be surprising that today’s undergraduate students have qualms with capitalism, but it’s a bit more surprising that some MBA students do, writes Glenn Hubbard, an economics and finance professor at Columbia University. In the piece, Hubbard shares that it was shocking when his MBA students during his courses in recent years began pushing back on the effectiveness of capitalism – a sentiment that has not usually been expressed. But as he learned why and did his own reflections, he better understood. “These young people, who have grown up amid considerable pessimism, are looking for evidence that the system can do more than generate prosperity in the aggregate. They need proof that it can work without leaving people and communities to their fate.” He said this is something business leaders ought to take notice of. The piece made me think of a perspective that BLK & Bold co-founder and CEO Pernell Cezar shared in a Q&A with our tech and innovation reporter, Sarah Bogaards, which coincidentally published today (Insider). He said: “We’re trying to build an impact to society through the way business functions, which has been woefully de-prioritized by businesses, and that impact is sustainably normalizing reinvesting back into the community of your consumer. We’re doing that by a product that infiltrates communities and adds purpose to an individual’s life from a product standpoint, but how do you allow the business model to add purpose back to the community?”

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