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Gene White's avatar

It would be lovely if this essay were assigned in economics classes throughout the land; both to educate the students and infuriate the teachers.

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yossarian's avatar

reminds me of a conversation i had on a date with a mckinsey consultant 20 years ago. she got that gig straight out of harvard business school with no real world experience. she was bragging about how she told the ceo of at&t that he should look for more opportunities to sell commodity products bought from outside suppliers because that would give him the most flexibility and the best margins. i replied that my father had taught me while running the family drugstore that you needed to differentiate your product and never compete solely on price, because if you do, there is always some bastard who will undercut your price. the blank look on her face was priceless. as you can imagine, i never got another date.

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