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It's not endowments that makes elite universities elite, it's a combination of social cachet, alumni networks, and brand. Cambridge, Oxford, and Sorbonne have
by wins32767 4y ago
It's not endowments that makes elite universities elite, it's a combination of social cachet, alumni networks, and brand. Cambridge, Oxford, and Sorbonne have been elite universities for centuries, and it's not mainly from their endowments. It's because if you are [smart|powerful], you want to go to a school with other [smart|powerful] people and you know [smart|powerful] people will be going there. A larger marketing budget isn't going to get people to look at a resume and pick the University of Phoenix over Harvard.
- Glawen 4y agoI think it is more vicious than this, as a powerful person, you want your children to continue in the same sphere. Except that children are not necessarily as good as you. So you create a system where powerful people can put their children and perpetuate the family standing without risks of being overrun by gifted lower class children.