June 20, 2006
Lack of endowment at U of C c. 1906
From the June 20, 1906 NYT:
The University of Chicago to-day lost five members of its Faculty, who resigned, it is said, because of the lack of sufficient funds to guarantee their salaries.
The professors are I. Thorstein Veblin of the Chair of Political Economy, Oliver J. Thatcher, Medical History; Alexis Carrol, and C.C. Guthrie of the medical department, and Charles A. Houston of the history department.
One hundred years later, the U of C has an endowment of
approximately $3.6 billion.
[Aside: How is Veblin/Veblen's name actually spelled? Perhaps the NYT has a typo? In Google, "thorstein veblin" yields 480 hits whereas "thorstein veblen" yields 274,000. I am assuming that the Thorstein Veblin refered to is who wrote Theory of the Leisure Class.]
Posted by Craig Depken at 10:14 AM in
Misc.
