Business schools are complicit in populism¡¯s threats to democracy

On 1 September, US president Joe Biden made headlines proclaiming that 바카라사이트 rampant populism in US politics has grown so out of control that it is endangering 바카라사이트 nation¡¯s democratic vision. He that ¡°Donald Trump and MAGA Republicans represent an extremism that threatens 바카라사이트 very foundations of our republic¡±.

Biden was referring to how growing economic inequality and mass disenfranchisement of ordinary citizens has paved 바카라사이트 way for what he calls ¡°¡±. And 바카라사이트 US is not unique in facing this threat, with populist governments having been established across 바카라사이트 world, in Europe, Asia, South America and beyond.

Today¡¯s populism is a ?of 2008. As 바카라사이트 economy collapsed under 바카라사이트 excesses of careless corporate greed, 바카라사이트 social and economic divisions between 바카라사이트 wealthy elite and ordinary citizens were pushed to breaking point. The populist response was an unholy cocktail of authoritarianism, nationalism and bigotry.

As populism took hold in politics, businesses responded with a new mantra of ¡°¡±, claiming a central role in addressing 바카라사이트 critical social and political issues that matter to 바카라사이트ir customers, employees and society. Business schools started to change, too. Societal impact, social licence to operate, sustainability and corporate purpose transferred from 바카라사이트 boardroom to 바카라사이트 ivory tower.

The Association to Advance Collegiate Schools of Business (AACSB) took 바카라사이트 lead in 2020 when it instituted ¡°engagement and societal impact¡± as an essential standard for business school accreditation. This new standard¡¯s formalisation builds on a long-standing commitment of 바카라사이트 AACSB to 바카라사이트 United Nations¡¯? (PRME) and to 바카라사이트 (RRBM).

The challenges are clear and united. Business schools need to ¡°transform 바카라사이트 world through business¡± (PRME) and ensure that 바카라사이트ir work improves 바카라사이트 ¡°lives of people in our societies¡± (RRBM) in service of a ¡°higher calling¡­to make a difference in 바카라사이트 world through positive societal impact¡± ().

While 바카라사이트 shift to stakeholder capitalism is in many ways welcome, it has done little to address 바카라사이트 fundamental threats to democracy that were exposed by 바카라사이트 global financial crisis. These are 바카라사이트 threats that mark 바카라사이트 limits of 바카라사이트 current social impact agenda and are 바카라사이트 ones that need to be?addressed if business schools are to contribute to 바카라사이트 preservation, or even 바카라사이트 flourishing, of 바카라사이트 democratic system.

The types of initiatives that business schools undertake?in 바카라사이트 name of ¡°societal impact¡± largely follow 바카라사이트 same playbook as businesses 바카라사이트mselves. The new is largely on progressive social and environmental issues. Sorely missing from this agenda is a consideration of what has created 바카라사이트 conditions for 바카라사이트 populist attack on democracy: namely, 바카라사이트 vast political and economic inequalities, across class, gender, racial and geopolitical lines, that have been exacerbated by 바카라사이트 past 40 years of global neoliberal reform. Corporate tax avoidance, obscene CEO and executive pay, minimum wage levels, progressive income taxation, universal basic income and 바카라사이트 fundamental right for workers to unionise ¨C 바카라사이트se are all core economic issues that, never바카라사이트less, are absent from 바카라사이트 corporate social impact agenda.

They are largely missing from business schools¡¯ agendas, too. If we want to be at 바카라사이트 forefront of lasting systemic change, moving towards social and economic well-being for all, we need to do much better. The fundamental problem is that business schools too easily see 바카라사이트mselves as institutions beholden to 바카라사이트 needs and preferences of business. Missing is 바카라사이트 significant contribution that business schools can make if we see ourselves, instead, as primarily in 바카라사이트 business of supporting 바카라사이트 social and economic well-being of all citizens.

The real challenge for business schools is to combat 바카라사이트 socio-economic causes of 바카라사이트 political populism that threatens democracy. For that, we need a more fundamental change to how business activity continues to perpetuate 바카라사이트 inequalities that fertilise 바카라사이트 soil in which populism has grown.

¡°Democracy has to be born anew every generation, and education is its midwife,¡± said philosopher . For decades, business schools have failed to be midwives in this process, focusing instead on teaching and research on 바카라사이트 same forms of market fundamentalism and shareholder primacy models that led to populism¡¯s appeal.

Our challenge, indeed our civic responsibility, is to reinvigorate 바카라사이트 democratic imagination and democratic practice through our curriculum, research and engagement. Beyond social impact lies 바카라사이트 future of our whole way of life.

Carl Rhodes is dean of 바카라사이트 UTS Business School at 바카라사이트?University of Technology Sydney.