'...An ironic counterpoint to university leftism is the increasing, and increasingly successful, imitation of business firms by America's colleges and universities. The leading universities are becoming giant corporations with multi-hundred-million dollar (or even billion dollar) budgets. As they grow, they need and so they hire professional management.

Professional university management, in turn, takes its cues from its peers in the business sector. So we have universities deeply involved in hedge funds, greedy for supracompetitive investment returns, engaged in the commercialization of scientific research, angling for applications for admission by the children of the rich, manipulating their statistics in order to move up in U.S. News & World Report’s college rankings (for example by fuzzing up their admissions criteria, so that they get more applicants and therefore turn down more and so appear more selective), exaggerating the job prospects of their advanced-degree graduates, bidding for academic stars by offering high salaries and low teaching loads, and, related to the bidding wars, creating a two-tier employment system with tenured and tenure-track faculty on top and tenure-less, benefit-less graduate students and temporaries on the bottom to do the bulk of the teaching.

And so the modern American university system allows its faculty and administrators to live right, while thinking left.'