Twofish's Blog

May 15, 2009

Thoughts on the Universities and the Financial Crisis

Filed under: academia, massachusetts institute of technology — twofish @ 7:32 am

http://www.wilmott.com/messageview.cfm?catid=16&threadid=70579&STARTPAGE=1

Speaking of universities.  One thing that shocks me is that universities are now facing their biggest financial crisis since the Great Depression as endowments plummet, and I’m a bit shocked at the lack of leadership and vision that is coming out of the academy.  MIT is facing a $150 million short fall in revenue over the next three years, and all they can do is create committees to study the problem, and no one is even talking about the fact that the drop in revenue may be permanent.

One reason I think that academia is in such sorry state is that anyone with any vision and determination got out of academia.

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2 Comments »

  1. You suggest that “academia is in such sorry state” because “anyone with any vision and determination got out of academia.” I agree that academia is in a sorry state. I have never framed the issue in terms of “vision and determination” embodied the academy’s leadership, but you might have a point. I would like to hear more of your ideas on the subject.

    Comment by John J. Crocitti — May 15, 2009 @ 4:26 pm

  2. Reagonomics trained a whole generation of academic administrators to look to the private sector for funding.

    Comment by brosna — June 4, 2009 @ 11:51 pm


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