University finances
So based on Berkeley's financial problems and the string of universities who have announced that their job searches are frozen this year, it was becoming apparent that universities were feeling the financial crunch very heavily. It's almost been shocking how quickly the repercussions have spread (academia always seemed fairly self-sufficient in my view of the universe), but then there was this article in the Wall Street Journal the other day: Harvard loses 22% of its endowment.. Wow. That's a hefty percentage, and as the article mentions, the universities further down the academic food chain are going to feel the financial pains more. Let's hope the job market doesn't dry up too much.
Side note: I'm amused that 22% of Harvard's endowment on its own is bigger than the endowments of all but six universities. Power law distribution of wealth at work!
Side note: I'm amused that 22% of Harvard's endowment on its own is bigger than the endowments of all but six universities. Power law distribution of wealth at work!