A seldom-updated blog about labor and universities and sometimes other stuff
Friday, August 5, 2005
Harvard is having trouble finding someone to replace its money manager. This article cites David Swensen's >$1,000,000 salary last year as a modest alternative to the previous Harvard guy's $7,200,000. Swensen is the highest paid official at Yale University. Alumni at Harvard are demanding that the university subcontract out some positions to external brokerages. The article discusses the problems inherent in the imperial university's need to continually increase profi---err, it's endowment and thus attract top tier capitalists like Swensen and Harvard's Jack Meyer while subsequently maintaining an image as a "non-profit" liberal arts institution dedicated to the "public good."
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