Executive Education Attractively-Branded, Perpetual Ponzi Schemes

BOSTON — In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises new members an unusual, attractive profit. The leaders of the organization (those at the top of the pyramid) receive a share of these payments. For the ones on top, the scheme is lucrative and the organization’s membership has an incentive to continue recruiting and funneling money to the top of the pyramid.
With superb branding and lurking behind a carefully-crafted facade of academic strictness, executive education remains a sophisticated, long-lasting Ponzi scheme which provides cash to universities and institutes at the expense of executives seeking post-nominal titles and companies willing to pay, experts say. “I might be giving away the racket here, but artificial selectiveness, bloated fees, abundance of hard-to-check testimonials and statistics combined with brochures with gorgeous designs are the formula to attract executives under the pretense they will learn something” comments Robert Thompson, Director of EMBA Program at the Institute of Executive Education, University of Pennsylvania, in an email sent to the Inquirer. “It is a known fact that no MBA or EMBA degree has ever helped to solve anything tangible in the history of humanity, but they are still in high demand, for reasons that we still cannot really understand. And if you rope in a colleague to the cohort, you get a discount! But hurry up, few places left” he completed.