From Bleeding edge:
The Economist seems shocked by the fact that Sumantra Ghoshal, a respected business academic who died last year, argued in a paper to be published shortly that MBA degrees provide students with some sort of robust moral dispensation that frees them any pangs of conscience over what they do in their business lives.
Conclusion from the Economist article:
The real problem arises when students, or their new employers, believe that an MBA is, somehow, a qualification for business leadership. It is not, nor could any academic degree provide this. Law or medical degrees are necessary but not sufficient for the making of outstanding lawyers or doctors. In a similar way, a good MBA degree can help provide a student with analytical skills and theoretical knowledge useful to a business career. But becoming a successful leader of men and women in a turbulent business world requires maturity and wisdom. Happily, there is no degree programme for those.
Tha seemssensible to me.