Home > Business Group > Question and Answer

Business Group

Question:

lalitmawkin
lalitmawkin
Teacher
Vocational

How far young MBA's and Phd's have been responsible for the downturn in American economy?

Rate question:

Posted by lalitmawkin on Wednesday June 17, 2009 at 10:45 PM and tagged with business, downturn in economy, mba's, phd's, recession.

Answers:

  1. krishna-agrawala
    krishna-agrawala Teacher
    Graduate School

    eNotes Editor

    I see no point in holding young MBA's, or PhD's responsible for either the downturn or upturn of American any more than than any other group of people responsible for managing the business, industry and government institutions.

    The downturn or upturn of any economy depends on collective behavior of the above institutions as well as the population in general. All these players in the economy interact with each others in a very complex manner. No single group is able to impact the economy unilaterally.

    Yes, some policy decisions taken at government level can impact the whole economy substantially. But, as yet the knowledge working of economies is still quite imperfect to know with confidence the right course to be taken by the government or business leaders.

    We expect people with MBA and PhD qualifications to understand the economic behavior better than others, but it will be wrong to expect them to be perfect in their understanding.

    Rate answer:

    Posted by krishna-agrawala on Thursday June 18, 2009 at 7:01 AM