Rethinking the Economic System: A Business School Professor’s Perspective Amidst COVID-19

Amidst the COVID-19 pandemic, I found a moment to reflect on my MBA and executive students’ teachings. The current global situation, marked by inequalities, the dominance of a few major platforms, ineffective economic policies, depletion of natural resources, social unrest, and the economic devastation caused by the pandemic, led me to question the effectiveness of our economic system. It seemed clear to me that the existing framework was broken and no longer serving its intended purpose.

As a business school professor, I felt compelled to explore how educators like myself could address these issues and contribute to creating a more sustainable and equitable economic system. It became apparent that our economic system had become entrenched, allowing a few well-informed actors, such as the Big Tech companies and their platforms, to exploit the system for their benefit at the expense of others. This exploitation had severe repercussions for both the well-being of individuals and the planet as a whole.

I realized that it is crucial for educators like myself to take action and use their knowledge and expertise to create positive change. We must challenge the status quo and work towards building a more inclusive and sustainable economy that prioritizes people’s well-being over profit margins. This means advocating for policies that promote social justice and environmental protection while also supporting small businesses and entrepreneurs who are often unfairly targeted by big corporations.

In conclusion, my time in lockdown during the COVID-19 pandemic has been an eye-opening experience that has made me realize how broken our current economic system is. As a business school professor, I feel compelled to use my knowledge and expertise to contribute towards creating a more sustainable and equitable economic system that prioritizes people’s well-being over profit margins.