MBA Grduate should think about generating employment for others and not earning employment for self

I would rather beg to differ to this thought for couple of reasons :
1)  It is not a moral obligation of any professional course to do or not to do something.  So putting all the responsibility of generating employement on to MBA grads in not legitimate.
2)  You mentioned that today most people do MBA to get better jobs and roles.  First of all it is not true completely and moreover i would like to ask that what is wrong in that ?  Because if all of them start opening up their businesses then you require people to manage that as well right and where do we get those people from ?  Moreover, it is not just MBA i guess, there all umpteen number of other professional courses which people take to increase their knowledge and get better job roles and responsibilities.  Everyone has their own aspirationa and own logic to take such courses.  Some may take up management jobs, consulting etc and some may open their own business. I think is totally legitimate and viable option. It will make the maket place a healthy mix of developing corporations as well as the budding new entities.
3) Last and the most important point : You have suggested that people taking management courses are only well equipped to manage things better and hence should necessarily start their own.  I think this is incorrect because in doing this you are discounting all those people who without an MBA degree or rather without any kind of formal education are managing corporations way better than an MBA would have done so !

Well said Mahesh, I agree with you. MBA's should become entrepreneurs than looking for a job. The government should also provide the necessary funds required to establish a business. This will encourage the youngsters and unemployment will decrease.......