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robertogreco : endowment   5

Think Tank: The 'Veritas' About Harvard - Commentary - The Chronicle of Higher Education
"Harvard spent the money [dramatically increased endowment] on many things. But not a dollar went to increasing the number of undergraduates it chose to bless with a Harvard education…<br />
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…the true currency of elite higher education is admissions, not financial aid…<br />
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That's because the real priority of elite higher education, as the receding tide of money has exposed, is the greater glory of elite higher education and the administrators and faculty members who work there. That's where all the money went, and that's where, now that some of the money turns out to have never existed in the first place, it needs to come from…<br />
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An institution truly dedicated to teaching students has natural limits on how much money it needs. At some point, the land and space and professors suffice.<br />
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An institution dedicated to accumulating more money and prestige? There are no limits to those needs. They can never be satisfied."
education  teaching  economics  academia  harvard  ivyleague  management  endowment  2011  highereducation  highered  elitism  class  society  havesandhavenots  money  finance  greed  wealth  access 
june 2011 by robertogreco
Ivory Towers of Debt | varnelis.net
"It's a giant ponzi scheme with little of value for students and, as Harper's described in a notorious graphic about the consequeneces of overbuilding in Brandeis (Brandeis has threatened a lawsuit and has accused Harper's of slander and libel over this piece), can collapse precipitously during times of economic crisis. But while bonds were hot, Wall Street couldn't have enough of them, so universities eagerly complied."
tcsnmy  fundraising  bonds  endowment  universities  highered  money  economics  recession  priorities  shortterm  longterm  kazysvarnelis  javierarbona  cities  architecture  buildings  finance  leadership  administration 
march 2011 by robertogreco
Rich Harvard, Poor Harvard: Vanity Fair | Vanity Fair
"For years, administrators at Harvard University could throw money at anything that tickled their fancy. A new medical school building for $260 million? Sure. A massive, Robert A.M. Stern—designed addition to Harvard Law School? No problem. One of the most sweeping financial aid initiatives ever undertaken? Consider it done.
harvard  money  endowment  fundraising  colleges  universities  collapse  crisis  economics 
july 2009 by robertogreco
Marginal Revolution: Department of No
"Of course they want a bailout but this is for me not a priority. Given the new distribution of wealth, arguably we need more culture for lower-income people and less culture for the rich. I don't think the old distribution of wealth is coming back anytime soon."
tylercowen  art  arts  funding  bailout  2009  crisis  money  finance  endowment 
january 2009 by robertogreco
Marginal Revolution: Should Harvard continue to accumulate an endowment?
"a donation to Harvard is an act of conspicuous consumption by the rich, a bit like buying the watch that doesn't tell time. In other words, the donors benefit, either through a warm glow or perhaps they receive networking opportunities"
money  economics  harvard  endowment  wealth  society  psychology  colleges  universities 
june 2008 by robertogreco

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