One of my favorite TV shows is House of Lies, relating the story of a team of management consultants who knows how to play the corporate game better than anyone, and uses every dirty trick in the book to woo powerful CEOs and close huge deals. I heard that before about investment bankers, so what about a little bit of truth? Are they useful of not?
There are more than 500,000 management consultants in the U.S. – more than 700,000 if you count the self-employed. And even more are on the way. So the team at Freakonomics thought it was worthwhile to ask a few questions about the industry. For instance: Where did management consultants come from? What do they actually do? And … does it work?