Economic System Reform: Equipping Future Leaders to Create a More Sustainable and Just Economy

During the lockdown in northern Italy amidst the COVID-19 pandemic, I took some time to reflect on the teachings I have been imparting to my MBA and executive students for many years. The current global situation, marked by inequalities, the dominance of a few major platforms, ineffective economic policies, depletion of natural resources, social unrest, and the economic devastation caused by the pandemic, led me to question the effectiveness of our economic system. It seemed clear to me that the existing framework was broken and no longer serving its intended purpose.

As a business school professor, I felt compelled to explore how educators like myself could address these issues and contribute to creating a more sustainable and equitable economic system. It became apparent that our economic system had become entrenched, allowing a few well-informed actors, such as the Big Tech companies and their platforms, to exploit the system for their benefit at the expense of others. This exploitation had severe repercussions for both the well-being of individuals and the planet as a whole.

I began to wonder if there was a way for us to shift our focus from profit-driven models towards models that prioritize sustainability and equity. I started researching new approaches and theories that could help us create an economy that is not only more resilient but also more just and equitable.

During this time, I realized that educators have a crucial role to play in shaping future leaders who will be able to navigate complex challenges such as climate change, resource scarcity, and social inequality. As such, it is essential that we equip our students with not only technical skills but also critical thinking skills that enable them to challenge dominant narratives and imagine alternative futures.

In conclusion, my time in lockdown forced me to reflect on the limitations of our current economic system. As a business school professor