Word: acsr
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Dates: during 1970-1979
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...Corporation's view that Harvard has so little clout that divestiture would be ineffective.) This fiscal and legal responsibility is largely redundant. Harvard has some extremely competent management investors and I am sure the administration has professionals to deal with other facets of these subjects. Not only is the ACSR's concentration on them inappropriate, it is dysfunctional. The ACSR was set up in response to student demands for a group to investigate the social and moral aspects of Harvard's actions and lack thereof. Although social consequences are sometimes discussed, they tend to appear secondary and the discussions...
While on the ACSR I have seen uninformed decision-making, excessive stalling, considerable manipulation and always excuses for inaction. I seriously doubt the commitment of some participants to the fulfillment of their jobs. I had viewed the ACSR's investigation into South Africa as an attempt to determine what Harvard could do to help blacks in South Africa achieve majority rule. A significant portion of the committee does not seem to believe in majority rule even here at Harvard...
During the ACSR meeting of Nov. 29, 1978, the following hypothetical situation was discussed: if the whole Harvard community (variously defined as 90 to 99 per cent) were to favor the initiation of a shareholder resolution in a company, should the Harvard Corporation be bound to take the action? The answer of these members was no, because, in the words of one, it was "too much democracy." Since some committee members have shown what I consider paternalistic attitudes towards South African blacks, suggesting that blacks do not know what is best for themselves, I wonder why these members should doubt...
...summary, due to the composition and method of selection of members of the ACSR, the committee fails in its purpose of investigating the moral side of Harvard's decisions. Instead it delivers the same views as the administration, only with an invalid stamp of "social responsibility...
Committee members are not wholly responsible for what I consider uninformed decision making. Mr. Laurence Stevens, the ACSR's secretary, plays a large role in this problem. Committee members are supplied with huge amounts of information, both from the Investor Responsibility Research Center and clippings from such publications as The Wall Street Journal and The Crimson. However, many well-informed sources favorable to the exit of U.S. corporations from South Africa are largely ignored. The United Nations Center Against Aparthied publishes about 30 informative pamphlets a year. Mr. Stevens is aware of this source, but the only U.N. Center Against...