awried
Thanks for the information on Columbia's new conflict of interest policies. It's very heartening to see that things are moving in the right direction and the issue wasn't ignored.
That being said, I don't think it's irrelevant to business school decisions at all. Ostensibly one of the missions of b-school (I hope), is to educate leaders in the financial and management worlds to make sound and ethical decisions...so that tomorrow's CEOs and leaders won't push us into the same crises fueled by the both immoral and financially illogical decisions of late.
If that's the case, our professors and deans in business schools should be the first to lead by example. I wouldn't want to be taught by someone like CBS professor Frederic Mishkin (also in the documentary) who wrote academic articles on the stability of Iceland's economy (which indeed were later proved to be almost humorously wrong) while being paid $135k by the Icelandic Chamber of Commerce....and not disclosing this or thinking there was a problem with it.
Prospective students probably aren't in the best place to bring up these sore spots, but I certainly hope that current students discuss and are aware of the issues, and try to push for accountability.
A couple notes on this:
1) "Irrelevant" I suppose is a pretty high criterion to meet. To the extent that it disrupts the school's ability to recruit top professors, affects top prospective students from matriculating, and influences recruiters opinions about the school (and maybe some other issues), it is relevant. However, I think that the connection between professor disclosure policies on their academic papers and pay for consulting work to the issues that matter most to students (teaching experience, recruiting, and overall dynamics of the day-to-day of being a student) is tenuous at best.
2) I don't really have the time or resources necessary to fully vet the validity of the claims made in the movie, but I am aware that this film was made with a specific agenda in mind and is not necessarily an investigation in search of the truth. I don't know what the fully story is. The CBS staff shown look really bad on the film, but that was kind of the point. The truth? Probably somewhere in the middle, or worse. However, I think that making fundamental decisions on my life and career, such as which business school to attend or even what classes to take, based on a documentary (and one with an incentive to be sensationalist and bend the context of its presentation), is possibly a short-sighted decision.
All that said, I think Columbia has chosen to not ignore this, and has taken steps to correct some of the issues that Inside Job may have revealed.