Word: apartheid
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Other professors called on Harvard to use its public and international stature to take a moral position against apartheid through divestment...
...Corporation defended its investment policy by outlining ethical standards already in place for evaluating investments in South Africa at the Faculty meeting. A. Michael Spence, an ACSR member, specified that corporations that withheld products and services from the government, the military or the police that implemented apartheid and adopted employment practices that benefited nonwhites in South Africa met Harvard’s standards for investment...
...debate over Harvard’s investment even reached members of Congress. Rep.-elect William R. Ratchford, D-Conn., told The Crimson that Harvard’s divestment from South Africa-related stock could influence national and international governments against apartheid...
...March, Bok wrote that the purpose of a university is not “to reform society in specific ways,” but to transmit knowledge and protect its financial stability. In his second letter in April, Bok doubted the effectiveness of divestment in promoting the end of apartheid, and supported the Corporation’s position that the best way for Harvard to influence corporate behavior was “to vote as a shareholder...
...Corporation never launched full and immediate divestment, though it sold stocks in companies that did not contribute to anti-apartheid efforts, which included protesting to the government and training or promoting black employees...