By Alessia Contu.
A professor of politics in an elite US liberal art college recently remarked to me: “I must confess my stereotype of someone working in a business school is of one who serves the one per cent.”
Noting our shared political and intellectual persuasions, she questioned: “how can you work in a business school?”
My colleague is right, of course. Business schools are not perceived as intellectual ‘hotbeds’, and even less crucibles of critical and progressive thinking.
Business schools are often portrayed as universities’ ‘cash cows’, something former minister of universities and science David Willetts acknowledged in 2013. A Chartered Association of Business Schools Report in March confirmed that business schools are big business worth more than £2.4 billion annually.
Guest Post by Anonymous Trump Fan.
Greetings, dear Americans! As our new President appears and promises to change this system and make America great again, it’s time we look at one of the things he could do to really make America great, and it’s in his specialty, business.
By Stephan Manning and Juliane Reinecke.
We live in a world burdened by large-scale problems that refuse to go away: the refugee crisis; terrorism; rising sea levels; frequent floods, droughts and wildfires; not to mention persistent inequality and violation of basic human rights across the world.
What do these problems have in common? They resist any simple solution. In policy research they are called “wicked.” This is because cause-effect relations are complex and solutions unclear; many of these problems are urgent, yet there is no central authority to solve them; their magnitude is often hard to estimate; and those trying to solve them may even contribute to causing them.
The EU refugee crisis, the topic of a recent U.N. summit, is a good example: Driven by regional conflicts and poverty, and assisted by trafficking networks, people from Africa and the Middle East continue to take enormous risks to enter EU territory by land or sea. For several years now, thousands of refugees have died on this journey each year and no solution is in sight. EU member countries continue to blame their neighbors for either taking in too many refugees or for refusing to help, while there is little shared interest and limited capacity for actually addressing the sources of the problem.
What’s the best way to effectively address these types of wicked problems?
By Suhaib Riaz. *
“Socializing finance” has become shorthand to describe the research that several scholars (including me) are engaged in related to social studies of finance. This stream of work involves: bringing finance into the realm of social studies; but also making the industry aware of other ways of thinking and doing, beyond their current status quo; this also often has an element of (social) interaction with the industry thrown in. All these are consistent with various meanings of ‘socializing’ and are much needed efforts.
But there is a flip side to this aspect. How critically aware are we that finance is also on a mission to socialize us – in the sense of influencing our thinking – even as we may attempt to ‘socialize’ it?
In my work (in collaboration most prominently with Sean Buchanan, Trish Ruebottom, Madeline Toubiana) and that of a few other scholars, this seems to be a theme too powerful and important to ignore.
Finance is indeed at work to socialize us – to influence our ways of thinking about it through various means. At the peak of the financial crisis, various categories of elite actors seemed bounded by these ways of thinking about the financial industry resulting in configurations of positions often in favor of status quo (see Riaz et al., 2011). More specifically, financial industry leadership may well see it as their task to defend the institutional framework in which the current version of their industry thrives; and accordingly work to ‘socialize’ the rest of us – all stakeholders- to accept their view of finance and its role in society as the ultimate one by claiming epistemic authority in this domain (see Riaz et al., 2016). Continue reading
By Stephan Manning and Marcus M. Larsen.
One of the big themes in the current presidential race is how decades of free trade have dealt a heavy blow to the American worker as millions of jobs were shipped overseas to take advantage of cheap labor.
That’s even turned some pro free-trade Republicans into protectionists. As a result, the candidates are promising to bring these jobs back to the U.S. – whether by lowering taxes (Donald Trump), improving skills (Hillary Clinton) or building infrastructure (Bernie Sanders).
But can all these manufacturing, service and knowledge-intensive jobs that were outsourced or offshored to China, India and other places really be “brought back,” as the candidates seem to believe?
David L. Levy, UMass Boston.
It’s approaching three years since hurricane Sandy killed over 230 people in 8 countries, and wreaked havoc on the New York-New Jersey region – and put climate adaptation firmly on the national agenda. Sandy, which disrupted at least 450,000 businesses in New York and New Jersey, illustrated how cascading impacts not only damage property but also disrupt businesses for extended periods of time, due to the interaction of power and communication outages, infrastructure damage, and supply chain disruptions. These complex interactions were not adequately understood or anticipated. The reinsurance company Munich Re has estimated insured losses at $25 billion and total losses of at least $50 billion in the US from Sandy. Looking to the future, the 2011 Mass Climate Adaptation report notes that: “Sea level rise of 0.65 meters (26 inches) in Boston by 2050 could damage assets worth an estimated $463 billion”. Cities and states have begun to devote significant resources to planning for sea level rise, more frequent and intense storms, and more intense heat and drought. In one design-for-climate-change scenario, Boston would be transformed into an American Venice.
By Keshav Krishnamurty and Stephan Manning.
In professional academia, where you either publish or perish, finding examples of engaged scholarship is rare. By ‘engaged’ we mean experience-driven, problem-oriented, impactful. Last Friday, we had the privilege – as members of the OSC research group – to meet a community of scholars in Cambridge, MA, who care deeply about their work and impact – at the workshop “Africa in the 21st Century: Prospects for Secure Sustainable Development”. This event was organized by African PhD students of the UMB Global Governance and Human Security Program, and co-sponsored by Educational Divide Reform and the Academy of International Business US-Northeast Chapter.* This one-day workshop brought together PhD students and senior scholars of political science, business, sociology, health and environment to discuss pressing questions of peace and conflict, extraction of natural resources, and the future of business and development partnerships in Africa. Aside from showcasing the importance of research perspectives from Africa and the Global South, we were intrigued by the high level of involvement of presenters with their own research. Many experienced in their own lives the very conditions – poverty, discrimination, corruption – they are now studying and trying to change. What can we – scholars and students of organizations and business – learn from them and to what extent can their research be a role model for us? Let us give some individual thoughts and raise some questions going forward…