Harvard Business School celebrates its centenary this year. We can look forward to a series of grand events, much back-slapping and frequent blowing of its own trumpet. But how energetically will the great school salute the achievements of perhaps its most famous alumnus of all, George W. Bush (class of ’75)? It seems unlikely that the outgoing US president will be claimed as a poster boy for the Master of Business Administration (MBA) qualification any time soon.

Maybe this Bush administration merely represents an embarrassing hiccup in the otherwise increasingly deep and intimate relationship between commerce and elected leaders. The worlds of politics and business inevitably overlap, and collide. What President Dwight D. Eisenhower once labelled the “military-industrial complex”, we might rebrand as “politico-commercial”.