Things have changed, haven’t they? Months ago, we were arguing over universities hoarding their endowments even as tuition prices increased. Then endowments took massive hits and even Harvard terminated 50 money managers. I haven’t heard much about it since.
Burton Weisbrod has always argued against requiring universities to pay out a fixed portion of endowments annually, and he bases his arguments out of an intimate understanding of how university finances work, and where money intersects with the overall mission of the university.
Here he is, on Book TV, explaining many of the factors at work. I can’t embed the video, but you can watch it here. Fascinating stuff.