Both systems have their respective problems. For private universities, it is the influence that money will buy. For universities that are basically an outgrow

Both systems have their respective problems. For private universities, it is the influence that money will buy. For universities that are basically an outgrowth of the public administration apparatus, it is lack of accountability, lack of meritocracy-inducing regulative forces (cultural and otherwise), politics, perverse incentives, etc. etc.