http://online.wsj.com/article/SB1000142 ... 68564.html

An interesting perspective...
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Concur.

network: One can't get an easier opportunity to network with an elite pool of people than in the b-school.
knowledge: The premise of the article is that the knowledge imparted in the school can be in some way or the other gained in the outside world. Yes, it might be possible, but its impossible to create a structured course for oneself using coursera and experience practical stuff that a school will teach. Also, you won't get the peer learning experience.

Cobrakai is spot on with the career changing point. Also, one obviously can't think of opportunities with the bluechip firms without a business degree.

I can think of at least 2-3 more solid points, I'm sure there will be more. It is an interesting take but, probably the scenario the author talks about would be more feasible for schools ranked outside of top 50 range, where the ROI is very questionable.
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No, you can't buy in to a network. However, you generally aren't going to meet the people you'd meet at a top business school without going yourself.

"Most of all, put yourself in the shoes of your future boss and imagine whom you would rather hire: the candidate who built a profitable business over the course of two years, or the candidate who sat in lectures and reviewed case studies to get a degree?"

HR departments don't care about your profitable business. They care about checking off boxes. If their listing says you need an MBA, no amount of business sense is going to get you past that.

Furthermore, if I want to keep moving up in consulting, I need an MBA. My options are, get an MBA, or somehow manage to bring in another $20-30 million in work next year. Mind you, chances are the sales people will get the credit for those sales and I'll be in the same spot I'm in.

If I want to leave consulting, the only option is an MBA if I want to keep anywhere close to my current salary.

Hell, you could say the same about any degree. Why do you think Harvard grads generally go so far in life? It's not because of the coursework. A basic college math or chemistry course is generally the same everywhere. It's because you're surrounded by an elite pool of people who you meet and network with. Eventually you'll all take each other much further than you could have gone yourself. That's the way the world works. No amount of coursera or open courseware courses will change it.

It's also extremely misleading in that he quotes the $174k you'd spend on HBS, but then quotes the $46k 'average MBA graduate salary', which is practically a third of the average HBS graduate salary. The author should really compare apples to apples.

Okay, let's look at who the author is here, shall we?

Dale Stephens, founder of "UnCollege", which aims to change the notion that college and advanced education is the only path to success. Uh, ulterior motive much??

He attended Hendrix College in Arkansas and dropped out because he didn't like the experience. He based his entire view of academia and academic culture based on one, single full semester of college.

I respect what he's trying to do, but you have to take this article with a grain (no, a ton) of salt.

But yes, it does open a much-needed conversation about the state of academia, and what kind of education is truly necessary in our current economy.