Academia can be very exciting, even when we are only talking about employing teachers. Even though I know the average student and/or person doesn’t think about it, there’s a bidding war out there for best and brightest…economics professor.
As David Warsh explained last week:
Some of the problem must have to do with the university's administration -- but not all. "Because of the way private university endowments are managed, they have grown substantially," says Gary Hansen, the current chairman. State budget appropriations haven't kept pace.
Here’s hoping the alumni donation check to the University of Delaware does something meaningful for the economics department. Luckily, many schools have significant individual donors, which is why the UD’s business college is named the Alfred Lerner College of Business and Economics.