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Frank Revelo's avatar

>university boards of governance are packed with members and representatives of the oligarchy, and half of social science academic funding is provided by plutocratic foundations

USA inheritance tax used to be very significant and it still bites, hence all these multi billion dollar university and other endowments and foundations, tax exempt and also exempt from the old common law prohibition on perpetuities. Managing these endowments and foundations provides sinecures for less competent offspring of the elite. Notice how few university endowments increased their disbursements to make up for recent Federal government cutbacks. Preserving endowment capital takes priority over research and education.

mike liston's avatar

Thanks Roger, I can't afford your sub as I'm retired and living in China but thanks for your generosity, Mike Liston

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