India Uncut
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Wednesday, April 05, 2006
Enterprise, and the IIMs
An ideal MBA should prepare you to run a business, and not just to do a job. Well, Ravi Venkatesh writes in to point me to an article about some of his IIM-A batchmates who have opted out of placements to do their own thing. Good for them, and I wish them all the best. Many of their ventures may not succeed at first, but you only grow when you go out of your comfort zone, and they're making good use of their education.
On that note, I think it's about time the IIMs stopped taking subsidies, for it no longer needs them. Their costs should be covered entirely by student fees and voluntary private endowments. Students who can't afford the fees will certainly get education loans from the free market, given the market value of their degrees. I see no justifications for our taxes -- in fact, a large chunk of those taxes come from indirect taxes paid by the poorest of people -- being used for a purpose that the free market can easily fulfil many times over.
On that note, I think it's about time the IIMs stopped taking subsidies, for it no longer needs them. Their costs should be covered entirely by student fees and voluntary private endowments. Students who can't afford the fees will certainly get education loans from the free market, given the market value of their degrees. I see no justifications for our taxes -- in fact, a large chunk of those taxes come from indirect taxes paid by the poorest of people -- being used for a purpose that the free market can easily fulfil many times over.
