The article analyzes professional ethics of designers and educational process of students in design school according to the American designer Victor Papanek. He argues that industrial design is a very significant field of human activity, and that is why an industrial designer has a responsibility to the world. Social good and moral values are very important in a designer' practice and V. Papanek tries to embody them in the educational process. The article analyzes Papanek's project of design school in the framework of academic ethics, the possible usefulness for the contemporary academic ethics, and educational management. The project contradicts market mentality in education as well as in design profession, but it aims at the social good and moral values of the profession. The author proposes that Papanek's views on the educational process can be extrapolated to higher education of other specialists.