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January 11, 2013 10:00 AM God Is My Broker

By Daniel Luzer

Catholic

Earlier this week the Catholic University of America announced the creation of a new School of Business and Economics apparently designed to “infuse the university’s religious values into the business curriculum.” Just what America needs, another gimmicky business program.

According to an article by Melissa Korn in the Wall Street Journal:

Created in response to rising demand for business education, the program’s virtues-based approach hinges on the idea that business is meant to foment social good and not just financial success; that’s a departure from a traditional business education, which focuses mainly on how to maximize profits.
“Business is supposed to be a service to society,” says Andrew Abela, chair of the business and economics program, now housed in Catholic’s School of Arts and Sciences and comprised mostly of undergraduate students.

Reacting to the potential conflict between the pursuit of great riches (which is, of course, why one goes to business school) and a life of faith, Abela says all is well.

Though Jesus once said it is easier for a camel to pass through the eye of a needle than for a rich man to enter heaven, “it is a misreading of Catholic theology to think that one cannot be a successful business person and a person of faith,” says Mr. Abela.

Well, no need to worry about that! Business schools don’t really lead people to success in business anymore anyway.

Earlier in the week an article in the same Wall Street Journal reported that a vast increase in the number of American business schools has reduced the wage premium for business degrees. [Image via]

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer