Phi Beta Cons

More Zywicki, More Brutal Honesty

In his second article derived from a speech at a Fund for the Study of Spontaneous Orders event, Todd Zywicki zeroes in on the problems of university governance: a focus on reputation over substance; conflicts of interest; confused missions; and an absence of concern for the actual education provided.

Zywicki places a lot of the blame on the Wall Street mentality resulting from the presence of many investment professionals on university boards, including “a preference for image management” rather than substance. School business is conducted with an eye on personal business: endowments are invested with board members’ firms and members solicit each other for investments.

He adds that such an environment lends itself to a “go along to get along” mentality, “a recipe for lazy and vacuous governance.”


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