State of MBA education

An Academic, PhilipGreenspun, recently wrote this in his blog:

“When universities created business schools in the 20th Century traditional academics decried the collapse of standards. Instead of students studying Literature, Art, History, and Science they would be going through the motions of a scholar while occupying their minds with things that formerly had been learned at a desk as an apprentice in a dreary Victorian counting house.”

Is the same thing true in today’s world? Is the standard of education in these institutions still something that can be learnt at a “Victorian counting house”?

My guess is that it is not so. In the last few decades many new forms of markets have evolved and at the same time many new products and services have come up. Without a systematic study of this phenomena it is not possible to increase the efficiency of running today’s businesses.