Business 2.0 confirms all my prejudices, asking What’s an MBA Really Worth?, and concluding that it’s a waste of $US 100 000 and two years. The article isn’t perfect. For example, it argues on the one hand that the MBA may have screening benefits by signalling that you are bright and ambitious, then questions statistical estimates finding no (statistically significant) difference between MBA’s and non-MBA’s by arguing that the two populations may be different. In fact, if you argue that entering students are more likely to be bright and ambitious, the implication is that the program actually has negative value. Also, it’s argued that MBA’s have too much theory and not enough practical stuff, but, I’d say that the place to get practical experience is the real world. The big problem with most MBA problems is that the theory is a grab-bag without the internal coherence of a discipline-based degree.