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There’s clearly a segment of the conservative intelligentsia that is launching a mighty struggle to restore the right’s reputation for having ideas. Along those lines, I note conservatives Daniel Larison and Freddy Gray approving of this sentiment by conservative Philip Delves Broughton:
MBAs in the public mind have become expert at extracting value from an economy, through fees, bonuses and exorbitant salaries, without knowing how to build value. They use their management voodoo to suck the blood of the real value creators in an economy. But really they are of less practical use to society than a decent carpenter or accountant.
Two years ago I could not have imagined encountering a self-described conservative who held the position that wages charged by managers can reflect expertise at siphoning money flows, rather than the market’s innately accurate rewards for value creation. Still today, when I raise this argument at, say, Megan McArdle’s blog, it is immediately shouted down by people who until recently embraced the Efficient Markets Hypothesis. I expect this “vampire MBA” thesis is an argument which will be more easily embraced by the communitarian side of the new conservative politics than by the libertarian side.
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