The Knowledge Problem and the Firm: New and Existing Critiques of Graduate Management Education

The authors of this working paper contend that many business graduate programs neglect Hayek’s knowledge problem, and in doing so, transmit through the students they train a flawed, overly centralized view of the firm. With the aim of helping to correct this flawed perspective, Coleman, Wilson, and Woodlief advance several recommendations for the business education community that might aid in a more explicit and robust integration of the knowledge problem and its implications into graduate management education.