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Are business schools useful in terms of knowledge, or rather more confidence boosts?

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    Institutions like Wharton School of Business (Upenn), Yale School of Management, HEC Paris, ESADE in Spain, Bocconi in Italy, Warwick Business School, London Business School, Copenhagen Business School, ESCP and so on.

    We've all heard of them. They're expensive and prestigious institutions where you can get a fancy MSc for at least 30k GBP or an MBA for over 50k GBP.

    The question is, to what extent is this form of education useful in terms of gaining hard skills, useful knowledge about business / entrepreneurship / investments etc, conceptual and analytical tools.

    Many of the alumni are people like Donald Trump at Wharton - people who already inherit the wealth and therefore have lots of capital for expanding and developing business. As such, Wharton serve Trump more as a 'confidence boost', assuring him that he is 'smart' and 'tough', rather than really teaching him the business inside out.

    Is this a fair assessment? Do you agree or disagree? What is your opinion on business education in general? How valuable is an MSc from such institutions in Finance or Management.
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