← Previous Post: | Next Post:

 

100 billion! UD’s been screaming about it for years, but she’s never done the math.

This guy did the math.

When grilled at trial in the lawsuit over Asian-American admissions about the “Dean’s Interest List,” a confidential list of applicants with ties to big donors whose admission rate is higher even than legacy applicants, Harvard’s dean of admissions, William Fitzsimmons, called the list “important for the long-term strength of the institution.” Earlier, during a deposition, he described legacy as “essential to Harvard’s well-being.” But Fitzsimmons couldn’t point to a shred of data to support these claims. In any case, the colleges don’t need the money. The eight Ivy League schools have a combined endowment of more than $100 billion, which they retain from their wealthy alumni in part because of the massive tax break they receive as nonprofits, a status that seemingly only can be defended on the premise that they promote class mobility.

Margaret Soltan, May 22, 2019 10:34PM
Posted in: harvard: foreign and domestic policy

Trackback URL for this post:
https://www.margaretsoltan.com/wp-trackback.php?p=61474

2 Responses to “100 billion! UD’s been screaming about it for years, but she’s never done the math.”

  1. David Foster Says:

    “promote class mobility”…actually, a case could be made that the true social function of these institutions…whatever the intent of the individuals running them and working in them…is to *inhibit* social mobility.

    Here’s Peter Drucker, from 1969:

    “One thing it (modern society) cannot afford in education is the “elite institution” which has a monopoly on social standing, on prestige, and on the command positions in society and economy. Oxford and Cambridge are important reasons for the English brain drain. A main reason for the technology gap is the Grande Ecole such as the Ecole Polytechnique or the Ecole Normale. These elite institutions may do a magnificent job of education, but only their graduates normally get into the command positions. Only their faculties “matter.” This restricts and impoverishes the whole society…The Harvard Law School might like to be a Grande Ecole and to claim for its graduates a preferential position. But American society has never been willing to accept this claim…

    It is almost impossible to explain to a European that the strength of American higher education lies in this absence of schools for leaders and schools for followers. It is almost impossible to explain to a European that the engineer with a degree from North Idaho A. and M. is an engineer and not a draftsman.”

    American society in recent decades has come much closer to accepting HLS (etc) as Grande Ecoles, in the sense Drucker described, than it was when he wrote the above.

  2. Margaret Soltan Says:

    David: Yup. Look how rich Harvard students are.

    Of course, given this fact, it would be the odd middle or lower class applicant who, looking around the place, would actually decide to spend four years being made to feel incredibly shabby.

Comment on this Entry

UD REVIEWED

Dr. Bernard Carroll, known as the "conscience of psychiatry," contributed to various blogs, including Margaret Soltan's University Diaries, for which he sometimes wrote limericks under the name Adam.
New York Times

George Washington University English professor Margaret Soltan writes a blog called University Diaries, in which she decries the Twilight Zone-ish state our holy land’s institutes of higher ed find themselves in these days.
The Electron Pencil

It’s [UD's] intellectual honesty that makes her blog required reading.
Professor Mondo

There's always something delightful and thought intriguing to be found at Margaret Soltan's no-holds-barred, firebrand tinged blog about university life.
AcademicPub

You can get your RDA of academic liars, cheats, and greedy frauds at University Diaries. All disciplines, plus athletics.
truffula, commenting at Historiann

Margaret Soltan at University Diaries blogs superbly and tirelessly about [university sports] corruption.
Dagblog

University Diaries. Hosted by Margaret Soltan, professor of English at George Washington University. Boy is she pissed — mostly about athletics and funding, the usual scandals — but also about distance learning and diploma mills. She likes poems too. And she sings.
Dissent: The Blog

[UD belittles] Mrs. Palin's degree in communications from the University of Idaho...
The Wall Street Journal

Professor Margaret Soltan, blogging at University Diaries... provide[s] an important voice that challenges the status quo.
Lee Skallerup Bessette, Inside Higher Education

[University Diaries offers] the kind of attention to detail in the use of language that makes reading worthwhile.
Sean Dorrance Kelly, Harvard University

Margaret Soltan's ire is a national treasure.
Roland Greene, Stanford University

The irrepressibly to-the-point Margaret Soltan...
Carlat Psychiatry Blog

Margaret Soltan, whose blog lords it over the rest of ours like a benevolent tyrant...
Perplexed with Narrow Passages

Margaret Soltan is no fan of college sports and her diatribes on the subject can be condescending and annoying. But she makes a good point here...
Outside the Beltway

From Margaret Soltan's excellent coverage of the Bernard Madoff scandal comes this tip...
Money Law

University Diaries offers a long-running, focused, and extremely effective critique of the university as we know it.
Anthony Grafton, American Historical Association

The inimitable Margaret Soltan is, as usual, worth reading. ...
Medical Humanities Blog

I awake this morning to find that the excellent Margaret Soltan has linked here and thereby singlehandedly given [this blog] its heaviest traffic...
Ducks and Drakes

As Margaret Soltan, one of the best academic bloggers, points out, pressure is mounting ...
The Bitch Girls

Many of us bloggers worry that we don’t post enough to keep people’s interest: Margaret Soltan posts every day, and I more or less thought she was the gold standard.
Tenured Radical

University Diaries by Margaret Soltan is one of the best windows onto US university life that I know.
Mary Beard, A Don's Life

[University Diaries offers] a broad sense of what's going on in education today, framed by a passionate and knowledgeable reporter.
More magazine, Canada

If deity were an elected office, I would quit my job to get her on the ballot.
Notes of a Neophyte

Archives

Categories