Hurrah for Capitalism

Mao.jpg

The fact the American economy collapsed recently due in large part to the creative financial manipulations of graduates of America’s fanciest business schools has apparently not affected these schools’ reputations.

At any rate, it hasn’t deterred imitators. According to a Bloomberg article by Alison Damast:

Hong Kong University of Science & Technology, Asia’s top-ranked graduate school of business, and three rivals are uniting to raise their visibility in the U.S., Canada and Europe, aiming to attract more Western candidates to Asia to earn MBA degrees. The Asian allies aim to create a brand, Top Asia B-Schools, and generate the sort of cachet associated with the Ivy League, said Nick Soriano, director of marketing and admissions at Nanyang [Technological University], in Singapore.

“Top Asia B-Schools” will reportedly consist of the China Europe International Business School, Hong Kong University of Science & Technology, the Indian School of Business, and Soriano’s school. According to the Bloomberg article:

“There’s the Ivy League in America, so we thought why can’t we Asian business schools do the same kind of thing,” Soriano said in an interview. “Even though we are very much each other’s competitors, we thought we can all work together in trying to attract and convince people to come to Asia for their MBA.”

Well one reason Soriano might be unable to “do the same kind of thing” is that half of Top Asia B-Schools are located in a pseudo-Communist dictatorship. That might be something of a barrier to attracting the world’s most sophisticated and ambitious students.

The founder of the People’s Republic of China, Mao Tse-Tung, once complained that, “There is a serious tendency toward capitalism among the well-to-do peasants.” If only he had known. [Image via]

Daniel Luzer

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer