Since this recession will have grave effects on so many lives, is it fair to say that the business executives that got us into this mess are guilty of financial malpractice?
That’s the idea of a new article in the Harvard Business Review, which recommends that business managers, like doctors and lawyers, should be formally licensed, and should take an oath to protect the long-term interests of their businesses and shareholders.
Requiring that aspiring executives obtain a license might lead to more sober risk management. But, on balance, would that benefit the economy or harm it?
(Dr. Katz takes an oaf.)