America can’t make things because managers all learn finance instead of production

In a provocative New Republic article, Noam Scheiber proposes that the collapse of American manufacturing is due to a general shift in management to people who have MBAs, and to a shift in MBA programs to an emphasis on finance instead of production:

Since 1965, the percentage of graduates of highly-ranked business schools who go into consulting and financial services has doubled, from about one-third to about two-thirds. And while

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