oohrah wrote:Yes, but endowments come from private sources and donations, not from state appropriated funds, for private universites..
Research grants are producing a product. Private and public universities both compete for the same research money. The results of the research is given back to the buyer (i.e the funding govt agency). You may take exception to types of research being funded, but don't fault the universities for just doing business.
That's not accurate about endowments. The University of Texas was started with an allocation of 5 million acres of State Land in west Texas. Back then it was the "5 million and 40 acres!"
It just so happened that land turned out to be some of the richest oil production in the country, as a partial result of which The University of Texas has, last I saw, the second largest endowment, behind only Harvard, which had a ~200 year head start. I remember driving out west years ago and all along the way were signs in front of wells, "Property of The University of Texas." It may have taken a hit the last few years after buying a few boatloads of gold at near record prices, and of course, oil prices are receding. My investment analysis professor was an old man (probably in his 60's
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) who was credited with saving the UT endowment portfolio in 1929.
UT also mines wealthy alumni, of course, and has the most valuable sports "brand" in the world, for now, which is worked for all it is worth. I saw that Red McCombs claimed a couple years ago that all the money in the world the Catholic Church doesn't have is in Austin at UT. It might be so.
Luckily, I have enough willpower to control the driving ambition that rages within me.