Why do business schools exist? Dr. Per Bylund wonders if business schools are facing an existential problem. Originally, their purpose was to train young people for a trade career. They transitioned into the field of management, preparing young people for the practice of management in large corporations. But the transition also turned the schools into creatures of academia, where research and theory are the dominant currency for professorial careers. Research and theory are not well-matched to the teaching of practice skills. So the professors borrowed from the rest of the university, especially the departments of economics, psychology and sociology, in order to concoct a management discipline. The result has been a disconnect with the realities of business. Show notes: https://mises.org/library/dr-bylund-austrian-school-versus-business-school "Austrian School vs. Business School" (PDF): Mises.org/E4E_85_PDF The Seen, The Unseen, and The Unrealized by Per Bylund: Mises.org/E4E_85_Book1 The Problem of Production: A New Theory of The Firm by Per Bylund: Mises.org/E4E_85_Book2 Dr. Bylund’s essay, "The Realm Of Entrepreneurship in The Market in The Next Generation Of Austrian Economics": Mises.org/E4E_85_Essay "The Austrian Business Model" (video): Mises.org/E4E_ABM2