For a while, college students were turning away from finance as a college major, due to the poor reputation finance had right after the near crash in the fall of 2008. Then a month or so ago, a writer expressed dismay that college students were back to seeking MBAs or finance degrees. The smartest of the smart were turning away from science.
And then last week, a Business Insider article said that business grad students were fascinated with shareholder activists and want to bring them in as speakers.
Article is here.
Noooooo! Please don’t say so! Even some of the business school professors have noted the destructiveness these shareholders activists have posed. So it looks like we have another generation of greedy soulless students and will face further destruction of businesses in the future.
We really need to come up with a new philosophy on capitalism, retaining the need for creative innovation but generating widespread wealth for everybody, and not just for a few. Most of the few really don’t deserve it. Do hedge fund managers add any value to society (other than making the already wealthy even more wealthy and that’s not adding value)? They are not adding any new products that help the world. I can’t think of a single product that hedge fund have created that helps society.