Nothing infuriates liberals more than seeing a big pot of money the government doesn’t control. So it shouldn’t exactly shock anyone that some are calling for the government to legislate how much universities with billion dollar endowments should spend instead of “hoarding” their money.
While the intention is to make prestigious schools reduce or eliminate tuition, as George Leef points out, this is a sure-fire way to get “the camel’s nose under the tent.” If, at first, the government can tell schools how much they have to spend, next they will want control over how they have to spend it. And if reducing tuition is “good,” then, in the liberal global village known as The Ivory Tower, so is hiring diversicrats and paying leftwing loons such as Angela Davis, Steven Salaita, and Ward Churchill ridiculous sums to speak on campus.
And perhaps, since investing in some companies is “bad,” such as investing in those companies that do business in Israel, maybe the government can also mandate schools’ investment strategies.
And on and on, until the pot of money is no more.