The intellectual foundation for the next generation of business leaders Today's business schools were designed for a world that no longer exists. Capitalism raised the standard of living for billions of people over the past 150 years, but is now causing systemic challenges it is unable to address, including climate change and inequality. And yet, business schools continue to teach ideas that are making things worse: elevating the primacy of shareholder profits above the interests of employees, the environment, and society; viewing government as an intrusion on the free market rather than an arbiter of its proper functioning; and promoting unlimited economic growth despite the devastating environmental and social consequences. Business schools cannot simply drop an elective into their curriculum to address these challenges. We must rethink the faulty foundations. Business School and the Noble Purpose of the Market explains the intellectual foundation MBA students, faculty, and administrators need to reform capitalism and restore its noble purpose for the 21st century. Many business students are in fact seeking this kind of education and frustrated that they are not getting it from their professors. This book will fill in gaps in their education, equipping them with the models and mindset to rethink shareholder capitalism and serve society's needs. Business faculty and administrators will find a practical program for amending curriculum and pedagogy, changing student and faculty rewards, and bringing a new spirit and sensibility to the business school. "Hoffman's book should be read by every dean, every chair, and every professor of every business school. We should be discussing, debating, and coming to grips with what it means and what we should do." ―Peter Tufano, Former Dean of the Saïd Business School, Oxford University; Professor, Harvard Business School "This book outlines what I wish my MBA curriculum had taught me and what I had to learn on my own - how to get an MBA education while keeping your morality and optimism intact. Its impact can't be understated - it is a life preserver to save business schools from themselves, so that they can continue to attract the best and brightest business leaders." ―Anya Shapiro, MBA 2022; Lead Business Designer, IDEO "An urgent call for students and educators to rethink business education and lead the necessary re-foundation of business around purpose, people and planet. This book is an encouragement, a provocation, and an inspiration." ―Hubert Joly, Former CEO of Best Buy; Senior Lecturer, Harvard Business School; Author of The Heart of Business "As a former business school dean who fought tirelessly to reform business education, I loved this book. It is beautifully written and provides great insights into why the current teaching model for business education is broken, and what to do about it." ―Ann Harrison, Former Dean of the Haas School of Business, University of California Berkeley "An important addition from a leading academic on the debate over how to overhaul management education." ―Andrew Jack, Global Education Editor, Financial Times "Offers profound and transformational ways for business schools to catch up to 21st century corporate realities. This is the intellectual foundation for the next generation of business leaders. Society needs it, industry is ready for it, and students are demanding it." ―Paul Polman, Former CEO of Unilever; Co-Author of Net Positive: How Courageous Companies Thrive by Giving More Than They Take "Professor Hoffman is bringing one of capitalism's core tenets, creative destruction, to business schools. He is offering a curriculum that the next generation of students need and demand." ―Caroline Chisolm, MBA 2023; Senior Consultant, EY-Parthenon "How do we transform a market system that is responsible for the climate crisis and social injustice? Andrew Hoffman's recommendations for business education are both radical and pragmatic. While warning about the inefficiency of small peripheral changes, he does not advocate for a tabula rasa. Instead, acknowledging the versatility of capitalism, he advocates for a move beyond shareholder capitalism and urges business schools to place nature and social justice at the heart of their curriculum. His book is a tremendous source of inspiration for any academic and business leader, teacher, or student passionate about transforming business schools and driving meaningful change in the business world." ―Laurent Muzellec, Dean of the Trinity Business School, Trinity College Dublin "Rigorous, accessible, and full of good ideas. With clear moral urgency, Hoffman outlines how unfettered capitalism is risking the future of life on this planet, notably through environmental collapse and political unrest borne of gross economic disparities. This book shows why business schools have failed to address these facts, and how we can fix that. I'd recommend this to any business student or busin