Getting back to Costco: the abstract theorizing that MBA students learn in microeconomics courses often has little relevance to practical business situations. The simplified textbook models do teach the lesson that policies like unions and the minimum wage are wrong — that message comes through loud and clear. Economics as it’s taught in most American colleges today encourages poor labor practices. No wonder why Costco prefers its own cart-pushers to fancy MBA bean counters. Costco’s business model relies on investing in its workers. It’s one you won’t find in a standard MBA textbook, and yet it is paying off in spades for stockholders, employees, and customers alike. Maybe they know something that the management consultant class doesn’t. And maybe it’s about time the rest of corporate America start paying attention.

The secret of Costco’s success revealed! (hint: no MBAs need apply) | Political Animal | The Washington Monthly

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