Noble Purpose of the market

Today's business schools were designed for a world that no longer exists. Capitalism raised the standard of living for billions of people over the past 150 years, but is now causing systemic challenges it is unable to address, including climate change and inequality. 

And yet, business schools continue to teach ideas that are making things worse: elevating the primacy of shareholder profits above the interests of employees, the environment, and society; viewing government as an intrusion on the free market rather than an arbiter of its proper functioning; and promoting unlimited economic growth despite the devastating environmental and social consequences. 

Business schools cannot simply drop an elective into their curriculum to address these challenges. We must rethink the faulty foundations. Business School and the Noble Purpose of the Market explains the intellectual foundation MBA students, faculty, and administrators need to reform capitalism and restore its noble purpose for the 21st century. Many business students are in fact seeking this kind of education and frustrated that they are not getting it from their professors. 

This book will fill in gaps in their education, equipping them with the models and mindset to rethink shareholder capitalism and serve society's needs. Business faculty and administrators will find a practical program for amending curriculum and pedagogy, changing student and faculty rewards, and bringing a new spirit and sensibility to the business school.

Hoffman's book should be read by every dean, every chair, and every professor of every business school. We should be discussing, debating, and coming to grips with what it means and what we should do.

PETER TUFANO, FORMER DEAN OF THE SAÏD BUSINESS SCHOOL, OXFORD UNIVERSITY 

PROFESSOR, HARVARD BUSINESS SCHOOL

This book outlines what I wish my MBA curriculum had taught me and what I had to learn on my own - how to get an MBA education while keeping your morality and optimism intact. Its impact can't be understated— this book is a life preserver to save business schools from themselves, so that they can continue to attract the best and brightest future leaders.

ANYA SHAPIRO, MBA 2022; LEAD BUSINESS DESIGNER, IDEO

An urgent call for students and educators to rethink business education and lead the necessary re-foundation of business around purpose, people, and planet. This book is an encouragement, a provocation, and an inspiration.

HUBERT JOLY, FORMER CEO OF BEST BUY

SENIOR LECTURER, HARVARD BUSINESS SCHOOL

AUTHOR OF THE HEART OF BUSINESS

As a former business school dean who fought tirelessly to reform business education, I loved this book. It is beautifully written and provides crucial insights into why the current teaching model for business education is broken, and what to do about it.

ANN HARRISON, FORMER DEAN OF THE HAAS SCHOOL OF BUSINESS

UNIVERSITY OF CALIFORNIA, BERKELEY

An important addition from a leading academic on the debate over how to overhaul management education.

ANDREW JACK, GLOBAL EDUCATION EDITOR, FINANCIAL TIMES