Tuesday, February 08, 2005

The New York Times> Opinion > Op-Ed Contributor: How Wall Street Learns to Look the Other Way: "Consider financial theory, the cornerstone of modern business education. The mathematical theory that has developed over the decades has proved extremely valuable in general. But when it comes to individuals, the theory runs into some problems. In effect, it portrays people as nothing more than 'maximizers' of their own 'expected utility.' This means that people are expected to be totally selfish, constantly calculating their own advantage, with no thought of others. If the premise is that everyone would steal the silverware if he knew he could get away with it, and if we spend the entire semester developing the implications of this assumption, then it is hard to know where to begin to talk about ethics. "

True. We are taught or we wanted to learn to become maximizers of expected utility to self. When ensure that the utility increases for the company so that the company maximizes the reward to me.
Is that really bad?
The fact that I am asking the question speaks volumes about how I have been willing co-opted by the maximize-unto-self theory.
I still dont think it is bad.
I need another MBA.
A different one.

Let's say I get a more idealistic MBA. Would it change the fact that when I go to buy a home theatre, I hope I made more than what I make now? I guess not.

Idealism sounds good, Bose sounds better.


At 8:58 AM, Blogger :..M..: said...

How true. How true.


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