Lots of companies are smart enough to figure out that it is cheaper to hire competent people than to accept the boneheaded mistakes that the cheapest warm body would make.
Besides, the ones that don't figure it out are no fun to work at. Who wants to be on the side that's bound to lose in the long run?
I just wish that they did less collateral damage on their way down.
This applies to everyone everywhere, and particularly positions that anyone with basic language and reasoning skills can fill (PMs, MBA types, etc)
No disagreement there. Just in my experience those jobs are either the first or second to go when things get tough - often because there's an MBA somewhere near the top who recognizes how replaceable all the rest are.
Aren't you being overly restrictive in scope here? Many executives are MBAs, but most MBAs are not executives.
Anecdotally, I know several full time top 10 grads who aren't exactly on the fast track to the c-suite, and I assume this is even more true for the broader pool of MBAs.