Indeed MBAs helped sell American USA) industrial production out to first Mexico and later to China. Sometimes a little knowledge can be a dangerous thing.
In Ricardo's simple economic model of "comparative advantage" an entire generation of CEOs and MBAs found justification to sell out corporate capital (everything except the labor, which was laid off) for billions.
A deeper understanding of the economy (not of economic theory necessarily, but of our economy) might have suggested that such a rapid and total sell-off might be very destructive to society.
But greed prevailed and now a generation passed before the full scope of the oversight was realized by most. Society took that long to realize a course correction was required.
Capitalism is be a formidable mechanism for good but pure unfettered capitalism usually has bad "side" effects. That's why we regulate businesses. Sometimes it works.
In Ricardo's simple economic model of "comparative advantage" an entire generation of CEOs and MBAs found justification to sell out corporate capital (everything except the labor, which was laid off) for billions.
A deeper understanding of the economy (not of economic theory necessarily, but of our economy) might have suggested that such a rapid and total sell-off might be very destructive to society.
But greed prevailed and now a generation passed before the full scope of the oversight was realized by most. Society took that long to realize a course correction was required.
Capitalism is be a formidable mechanism for good but pure unfettered capitalism usually has bad "side" effects. That's why we regulate businesses. Sometimes it works.