Billionaire Rejects Giving Pledge: 'Give Money to MBAs'

Billionaire Rejects Giving Pledge: 'Give Money to MBAs'

The new definition of chutzpah*: billionaire Scott McNealy's argument against the Giving Pledge.  He claims it would be better for society to give money to MBAs to start new businesses.

It's so convenient, isn't it, when what's better for society turns out to be exactly what's best for you?  And no one could doubt that the people most in need of financial assistance in contemporary America are the people with MBAs, who are all working part-time with no benefits and depending on the food stamp program recently decimated by Congress.

This trickle-down argument is of a piece with the current vogue for describing business owners as "job creators," when all business owners know that personnel costs are the biggest obstacle to profits.   They'll only create new jobs after having squeezed the absolute last drop out of the workers now on the payroll.

Let's be clear: society wants full employment; owners want profits. These interests are not only not identical--- they're actually diametrically opposed.

Hmm, labor and capital diametrically opposed: I seem to remember somebody's mentioning that at some point.   Maybe we should think about broadening those MBA reading lists.

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*[The old definition of chutzpah: killing your parents and then asking the court for lenience on account you're an orphan.]

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