It's really not that simple. There's a lot of money to be made in the upper levels of a university and nationwide administration has been growing relentlessly.

It's really not that simple. There's a lot of money to be made in the upper levels of a university and nationwide administration has been growing relentlessly. They may not officially pay dividends to "shareholders" but they are nevertheless very politicized institutions with the same grab for power and money, just on a scale smaller than Goldman Sachs, the US gov't, etc. Edit: For example: http://www.hawaiireporter.com/university-of-hawaii-procurement-under-fire-for-waste-fraud-and-corruption/123 http://www.hawaiireporter.com/university-of-hawaii-procureme... http://www.smh.com.au/it-pro/business-it/university-it-manager-found-corrupt-over-16m-in-contracts-20121024-284vc.html http://www.smh.com.au/it-pro/business-it/university-it-manag... Isolated cases but as with all systems with twisted incentives, I'd bet there's a lot more subtle corruption going in universities than we think.