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Category: Miscellaneous

American Attitudes toward Big Business

How can we reconcile the apparent contradiction between the outpouring of positive emotions caused by Steve Jobs’ death and the Occupy Wall Street movement? What does this say about American attitudes toward big business?

My colleague Ronnie Chatterji speculates on the answer in a News & Observer op-ed:

My conclusion is there is widespread agreement that getting rich in America while creating value for your company and for society is still a great thing, despite worries about resurgent populism and class warfare. Politics, bailouts and budget deficits have not changed this consensus around the nobility of good business.

Montreal Isn’t Like Europe, But Don’t Let That Dissuade You

Montreal, as seen from the south shore of the St. Lawrence

Having lived in two European countries, I am always puzzled when I hear people — Americans, usually — say that my hometown is “so European.” That probably explains why I loved this article:

The truth is, Montreal isn’t like Europe at all. But don’t let that dissuade you — most of the other places you could go are also not in Europe! And while you may have hoped that visiting la belle ville would give you the chance to improve your French, you’ll probably have a hard time finding someone to humor you. And why should they, with that accent?

But you haven’t wasted your plane ticket yet. Montreal does have many lovely attractions — and I’m not just talking about those Alouettes cheerleaders (amiright!). What you need is a more authentic way to experience the city: gamboling with a friendly, English-speaking local who can show you her favorite places and tell you what she loves about this town — and why she has found it so darn difficult to leave, come hell or near-complete lack of career opportunity.

Here’s more, from Maisonneuve Magazine.

 

The Education of an MBA: That Was Then, This Is Now

Earlier this week, I discussed signalling, both in the context of the recent trend toward “admitting failure” in development policy and in the context of corporate social responsibility in the business world. Wikipedia describes signalling as

The idea that one party (termed the agent) credibly conveys some information about itself to another party (the principal). For example, in Michael Spence’s job-market signalling model, (potential) employees send a signal about their ability level to the employer by acquiring certain education credentials. The informational value of the credential comes from the fact that the employer assumes it is positively correlated with having greater ability.

Not only that — the agent also has to incur a real cost in order to send the signal, otherwise the signal is simply not credible. Moreover, sending the signal need not involve any productive aim other than signalling. The classic example of signalling among economists is getting an MBA, which is costly both in terms of tuition and forgone wages.

So much for the costliness of getting an MBA. How productive is getting an MBA? Michael Ryall, who teaches at the Rotman School of Management at the University of Toronto and who guest-blogs over at orgtheory.net, has written a few excellent posts on how the content of an MBA education has changed in 30 years. Here is a good excerpt from his latest post: