"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
The Ten Most Dangerous Things Business Schools Teach MBAs
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Well written article. Similar things can be said about other graduate schools, or any formal education for that matter. Developing knowledge and competencies is important, but there is no silver bullet for the marketplace.