Word: cent
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...comparison to professors at other universities. One reason is Harvard's high level of prestige: whether a professor is truly qualified to advise on a certain topic, the Harvard seal of tenure is usually enough to earn him outside respect. "If I'm testifying in court, 50 per cent of the reason they listen to me is because I'm a Harvard professor," Zeckhauser says...
...alternative to banning outside activity is to limit it by establishing guidelines. Since 1966, the University has had both an unwritten rule under which no professor could spend more than 20 per cent of his time consulting and written guideline stating that professors who believe that their outside research conflicts with their university work should report to the dean of the Faculty. Such a system of self-monitoring has not led to an accurate assessment of professors' activities. John T. Dunlop, who served as dean of the Faculty from 1969 to 1973 cannot recall any cases coming before...
...amount of outside consulting is likely to increase. Harvey Brooks, Peirce Professor of Technology and Public Policy, who worked on the 1966 guidelines, says that in the future more professors may be driven to earn money on the side. Faculty salaries have decreased by 25 to 30 per cent in real terms, and that squeeze has a cumulative effect: The higher that percentage goes, the more people may be driven to consulting
...comes from tuition and other fees paid by students, the government, gifts and miscellaneous sources. Most of those sources are hard-pressed to keep up with the massive yearly cost increases for running the University. Endowment income distributed among the University's dozens of budget units increased 11.3 per cent to 76.6 million in fiscal 1980 over the previous year, while University expenses rose 13 per cent...
During the last decade, money made from investments and then distributed for use by the University's programs (as opposed to being plowed back into investment funds) has increased at a compound rate of 6.9 per cent, well below the compound rate of increase in University expenses of 7.6 per cent for the same period. Over the last ten years, the share of total University income provided by the endowment declined from 20.9 per cent to 19.5 per cent. Similarly, the proportion of total income provided by gifts and government grants also declined. Only miscellaneous and student sources of income...