The Capitalisn't Of Consulting: McKinsey And Beyond

Any discussion about the costs and benefits of capitalism is incomplete without a conversation about the costs and benefits of consulting, especially global consulting behemoth McKinsey & Company. The firm has consulted with over 2000 institutions — ranging from Presidents to CEOs, including 90 of the top 100 corporations worldwide, and acted as an accelerant to nearly every trend in the global economy. But, do consultants make the world a better place, or is their advice solely geared towards making their clients (and themselves) money in the short term, without regard to any potential societal damages? In recent years, the New York Times has published several exposés on McKinsey. On this episode, Bethany and Luigi speak with the Pulitzer Prize-winning investigative journalist behind those exposés, Walt Bogdanich, about his new book “When McKinsey Comes to Town: The Untold Story of McKinsey & Co., the World’s Most Controversial Management Consulting Firm” (co-authored with Michael Forsyth). Bogdanich traces the history and culture of McKinsey and some of the shocking stories he uncovered in the book. Our hosts then discuss the ethical implications of the consulting industry and the questions raised about the accountability of powerful societal institutions, including the role of business education.