Word: africa
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Dates: during 1970-1979
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...when the Senior Class Committee voted unanimously to send out a letter publicizing the newly-created Stephen Biko Memorial Fund, there was great hope that the Fund would succeed in bringing attention to an issue of vital concern to Harvard seniors and would directly assist the victims of South Africa's apartheid system. Though no one at the time viewed the Fund in and of itself as an adequate response to the challenge put forward by the Harvard Corporation's investment policy, everyone agreed that it would be a step in the right direction...
...Fund in the long-run. When paired with a possible boycott of the remainder of the Fund. Harvard students could use a carrot-and-stick strategy in dealing with the Corporation and its investment policy. If the Harvard Corporation continued its investment policy with firms with subsidiaries in South Africa, seniors and alumni could support the Biko Fund and boycott the remainder of the Gift Fund. If the Harvard Corporation adopted a more socially and morally responsible investment policy, then seniors and alumni could support both the Biko Fund and the remainder of the Harvard Gift Fund. In either case...
What this meant in the long-run was that the carrot-and-stick approach would be taken away from Harvard students if they supported the Biko Fund. Moreover, the Fund might be then used to detract from the real target of student concern on the South Africa issue: the Corporation's investment policy. Weighing this result against the very limited symbolic significance of the Biko Fund, it became clear that the political costs of keeping the Fund would far outweigh its benefits...
...Fund takes from students the financial lever--perhaps the only one left after failed marches, failed petitions, and failed discussion--it should not be supported. Support for such a Fund should come only after the Harvard Corporation has adopted an investment policy which clearly supports the withdrawal from South Africa of all American corporations in which it owns stock. Until that time, I would urge all seniors to totally boycott both the Harvard Gift and Capital fundraising drives, and send letters to the President and Fellows encouraging them to adopt a socially responsible investment policy...
...Corporation seems to listen only to the ring of the cash register. Therefore, a financial boycott and mailing campaign seem to be the only options left to those in the Harvard community who care about the University's corporate investment policy and its effects on human rights in South Africa...