Capitalisn’t: When the profit motive kills

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2021-07-24 12:00:07

The consulting firm McKinsey has agreed to pay nearly $600 million for its role in advising pharmaceutical companies on opioid sales. Has the profit motive gone out of control, and have business schools played a role in that?

On this episode of the Capitalisn’t podcast, hosts Luigi Zingales and Bethany McLean speak with Anand Giridharadas, author of the book Winners Take All and publisher of The Ink on Substack, about McKinsey, the culture of profits at all costs, and how businesses use philanthropy to distract us from the price we all pay.

Anand Giridharadas: If you run a business school, and you’re getting the sense that hundreds of people your school educated did and said nothing to stop the financial crisis, which hurt millions and millions and millions of people—many permanently—at some point, you’ve got to say, “This is our product.”

Warren Buffett: We ought to do better by the people that get left behind. I don’t think we should kill the capitalist system in the process.

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