Wednesday, September 16, 2009

A billion here and a billion there starts to add up even for Harvard whose endowment which dropped 30% over the last year.

One of the casualties from the recent, current recession is Harvard's endowment which at the end of June stood at $26 billion, now from nearly $37 billion a year ago. That's not chump change even for Harvard.

As a result Harvard had to let go of 275 employees and freeze salaries. The endowment covers over a third of Harvard's yearly operating budget. I can't say I'll weep for Harvard, which epitomizes the liberal education establishment in America. A school which was founded on an explicit Christian vision for education jettisoned that vision years ago.

While everybody has been hit by the recession, the big and little, good and bad, the recession may well have a leveling effect because Harvard has had a lot farther distance to fall than others.

1 comment:

ex-right-wing said...

Wow only the most narrow minded could look at a education system like Harvard and critize it on the fact that it now allows all thinking, religions, and thought patterns to attend it school, and some how slapping the label liberal on it with the thought that it would be a negative view.

Since if you go to the dictionary, the word pretty much somes up Jesus Christ.

Liberal by definition means tolerant of change, a person who favors a political philosophy of progress and reform and the protection of civil liberties. I would go on but to do so it would just insult you even more so.

The only ones that think that liberal labels are insults are the radical extremists, just as the same is with the label conservative.

I would like to say you were a conservative, I enjoy debates with my conservative family memebers and friends. But you are not.