<p>"Forty years ago, I think much of top management was filled from Ivies and other selective schools that were still aristocracies, rather than meritocracies: white males from certain backgrounds who operated on family and social connections. I think it is still true that those who majored in rigorous non-vocational subjects, whether art history or economics, have better long term job prospects in management, finance and many other fields too. "</p>
<p>Top management IN WHAT INDUSTRIES? There are plenty of industries in which an Ivy / selective school background was never needed in the first place. Let’s not pretend that “business” is just made up of financial institutions that historically have been brand name sensitive. </p>
<p>I don’t disagree about the white male part.</p>