By Robert R. Locke, J.-C. Spender

Confronting Managerialism bargains a scathing critique of the crippling impression of neoclassical economics and sleek finance on company institution instructing and administration perform. It indicates how company managers, as soon as good considered as custodians of the industrial engine using progress and social development, now look extra just like the rapacious "robber barons" of the Eighties. Confronting Managerialism is a different, topical, and debatable examine an issue that affects us all.

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Extra info for Confronting Managerialism: How the Business Elite and Their Schools Threw Our Lives Out of Balance

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Most rich and powerful NGOs and businessmen that wish to call on society to fulfill a need, usually find a way to achieve their ends. This happened in the US when rich businessmen endowed business schools in famous universities to teach the managerial caste. After World War Two, Japanese employer associations repeatedly requested more and better higher education in Japan. They asked for scientists, engineers, computer specialists, for the creation of technical research facilities and for the establishment of closer cooperation between universities and industry.

In 1954, Kenneth Arrow and Gerard Debreu announced that they had achieved a mathematical solution of general equilibrium, “the theoretical core of neo-classical economics,” which Edward Fullbrook states “has become the central showpiece of academic economics ever since” (Fullbrook, 2003, 5; Arrow and Debreu, 1954). These were heady days for Pentagon innovators. A new management technique, PPBS (Planning, Programming, and Budgeting System), was installed first in the Department of Defense by Rand economists after Robert McNamara left the Ford Motor Company to head the DOD in 1961 (Rosenzweig, 2010).

The Rand Corporation funded a generous fellowship program for graduate students in economics at the Universities of California, Harvard, Stanford, Yale, Chicago, Columbia, and Princeton, and provided postdoctoral grants to young faculty anxious to use the new methodology in their research (Fullbrook, 2006). Russell Ackoff left Case Western Institute of Technology to create the OR program at Wharton. Economists took their upgraded mathematical-scientific knowhow into the business schools, and the transformation of US business school education began.

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