Since the 2008 financial crisis, many have focused on Wall Street's "too big to fail" banks. Henderson notes that the ethics and values systems of these corporations have come under scrutiny.
Crompton describes her start with Citizens Bank in Canada and her mutual fund, Ethical Funds Inc. She explains that social change takes longer than expected.
Henderson suggests that business school education overlooks finance. Crompton discusses Canada's education system and the problems with outdated curriculum.
Henderson claims that assumptions in economic textbooks are deeply buried. She discusses Smith's "Theory of Moral Sentiment" and "Wealth of Nations."
Henderson details the evolution of branding the financial movement of ethical practices and the triple bottom line. Business schools try to catch up to the new market of sustainability.
Henderson describes the broken model of the college degree. Cromton discusses the new forms of colleges springing up domestically and internationally.
Credits: Reforming Business Education for Sustainable Economies: Ethical Markets 6
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Linda Crompton and Hazel Henderson review the urgent need to reform curricula at business schools in North America and Europe. Many are still teaching from obsolete textbooks with faulty assumptions that still permit companies, financiers, and governments to “externalize” social and environmental impacts from their balance sheets and pass on the costs to taxpayers, citizens, and the environment.
Length: 27 minutes
Copyright date: ©2015
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