But this article strikes me as a diatribe against capitalism rather than business school alone. And the author's track record of railing against an industry he taught in for years sounds a bit like a publicity effort.
Fwiw, my experience at Stanford was very positive and I found some of the academics to be quite useful even ten years later. And my classmate are incredible and many remain close friends and advisors.
[1] http://www.curiousjuice.com/blog-0/bid/120424/Reform-Stanfor...