Victor Fleischer writes about “the symbiotic relationship between university endowments and the world of hedge funds and private equity funds”: “Stop Universities from Hoarding Money” (The New York Times).
As The Arthurian pointed out in a comment on a recent post, Fleischer’s observations go well with a passage from Ralph Waldo Emerson that Stefan Hagemann quoted in an earlier comment on that post:
Gowns and pecuniary foundations, though of towns of gold, can never countervail the least sentence or syllable of wit. Forget this, and our American colleges will recede in their public importance, whilst they grow richer every year.
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