UD has long said that in a few years schools like Rutgers – run by jokesters and jocksters – will begin phasing out their economics departments, or at the very least introducing litmus tests for new hires.
Econ professors are among the very few on any campus who can actually run the numbers on athletics programs. The loudest among these professors often have access to the local newspaper’s opinion columns, and they can stir up outrage against massive sports deficits. The cleanest thing to do will be to shut them, and their departments, down. You could, short of that, hire only economists who have demonstrated that no amount of sports-related deficit is too great to outweigh their adoration of athletics.
Meanwhile, Rutgers has the curse of Mark Killingsworth, an econ prof who relentlessly, in opinion piece after opinion piece, chronicles what he describes as the brainlessness and insanity of that school’s president and board of trustees as they drive the place into incredible debt.
[The] real [athletics] deficit for 2016-17 can now stand up and be counted: it comes to a total of $35.4 million plus $11.9 million, or $47.3 million — the largest deficit in the history of Rutgers athletics. Despite [President Robert] Barchi’s oft-expressed pious hopes for athletics self-sufficiency, the program has now blown through a grand total of $193.1 million in deficit spending since he arrived in New Brunswick.
If you think this is bad … there’s worse. From the university’s response to another OPRA request, I learned that Rutgers currently has an outstanding total of $33.13 million in “internal debt” — the last of which won’t be paid off until 2030.
… The members of Rutgers’ Board of Governors have shown that, collectively, they are either too ignorant or too timid to do anything to restore even the most modest degree of fiscal sanity to Rutgers athletics: for them, anything goes. Apparently, they don’t understand, or don’t care, that athletics deficits take money that could have been spent on academics, and shamelessly raise fees and costs for students.
The only way to shut this guy up is to dump his entire department – call it a fiscal emergency, brought on by a temporarily high athletics deficit.