Word: endowent
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...investigate each donor and impose detailed moral standards." Once Harvard has accepted a gift, he protests, it should not renege on its agreement, because this "may inflict pain on relatives..." The pain inflicted on the donor's victims, of course, doesn't count as much: the oppressed rarely endow chairs...
Inflation eats away at the real value of the Harvard endowment, the guarantor of the University's immortality, even as the number of dollars in the portfolio reaches new heights. A major goal of the fund drive will be to raise money to endow chairs for current Faculty members, so the Faculty can re-allocate the money it now uses to pay them. Roughly $80 million in fund drive revenues will probably go towards this end, the largest single item on the fund drive's list, according to tentative figures supplied by Peter F. Clifton '49, director of the Harvard...
Harvard also negotiates the terms of donations. In 1971, the Corporation accepted $1 million to endow a chair in Korean studies from the Korean Traders Association, a quasi-governmental business group that practices the Tongsun Park style of public relations. Steiner said when the Koreans began dictating that its newly purchased professorship teach only economics, Harvard balked until the KTA agreed to leave educational decisions to the Faculty...
Some of the money may also be targeted for remodeling in Widener Library, and some may be used to endow student activities in the Houses, Glimp said...
Such movements, wrote Historian Norman Cohn, strive to endow "social conflicts and aspirations with a transcendental significance - in fact with all the mystery and majesty of the final, eschatological drama." To be human is to live inside history, to accept a reality that does not respond to dogma or a megalomaniac's discipline. One escape is that found by the people in Jonestown. - Lance Morrow