The Dangerous Wealth of the Ivy League

I think that readers of this blog might find this interesting: http://www.msnbc.msn.com/id/22043995.

Quoting from the article:

"Meanwhile, the wealth gap between the Ivies and everyone else has never been wider. The $5.7 billion in investment gains generated by Harvard's endowment for the year that ended June 30 exceeded the total endowment assets of all but six U.S. universities, five of which were Ivy Plus: Yale, Stanford, Princeton, MIT, and Columbia. Ivy dominance extends to fund-raising. A mere 10 schools accounted for half the growth in donations to all U.S. colleges and universities last year. All of the top five on the list were Ivies, led by Stanford, which set a record for higher education in 2006, collecting $911 million in gifts."

"$5.7 billion in investment gains generated by Harvard's endowment" is an unbelievable amount of money.

Here is a gem from Harvard's new president:

"One thing we all must worry about — I certainly do — is the federal support for scientific research. And are we all going to be chasing increasingly scarce dollars?" says Drew Gilpin Faust, Harvard's new president.

Not that Faust seems worried about Harvard or other top-tier research schools. "They're going to be—we hope, we trust, we assume—the survivors in this race," she says. As for the many lesser universities likely to lose market share, she adds, they would be wise "to really emphasize social science or humanities and have science endeavors that are not as ambitious" as those of Harvard and its peers.

Enjoy, and season greetings.