MBAs and Distributive Justice

There is yet another full-page ad for IIPM in The Hindu today. I am not going to say much about the solicitation for admissions, except that it seems inappropriate for someone to call the IIMs and their ilk "the MBA mafia" and at the same time use their name in their advertisements ("Dare to think beyond the IIMs..."). My post is about an article that appears as part of the ad. The article can be found here.

1. The article (IMHO) correctly recognises that unbridled capitalism is not a Good Thing (tm) and must be tempered by humanism, which it claims is the "social vision" of IIPM. But distributive justice, the proposed remedy, and "to each according to his need" seem too close to communism for comfort.


2. The reason given for the faster expansion of business in China seems pretty weak and nebulous:

   ... present MBA course structure concentrating only on market segments by individual profit making units. This fails to explain the potentiality of market expansion through distributive justice. Potentiality of business is always in harmony with growth rate of national economy. That is why business expands much more rapidly in China compared with expansion of business seen in India in the past.

   though I do agree with the ultimate aim of "raising the living standards of the people at the bottom".


3. The footnote claims that the column has a monthly readership of 75,000,000. I am not sure whether this astronomical figure is for the online edition or for the print version. In any case I would like a cite before taking it seriously.