Bibliographie
BARRY Karl, “Philanthropy and the Maintenance of Democratic Elites”, Minerva 35, 1997.
BASINGER Julianne, Smallwood Scott, “Harvard Gives a Break to Parents who Earn Less Than $40,000 a year”, The Chronicle of Higher Education, March 12, 2004, <http://chronicle.com/article/Harvard-Gives-a-Break-to/33465/>, accessed in October 2015.
BISHOP Matthew and GREEN Michael, Philanthrocapitalism: How Giving can Save the World, New York : Bloomsbury Press, 2009.
BLUMENSTYK Goldie, “Market Collapse Weighs Heavily on Endowments”, The Chronicle of Higher Education, February 6 2009, Vol. 55, N° 26, p.A17.
BRENEMAN Breneman, “The privatization of public university: mistake or model?” The Chronicle of Higher Education, March 7, 1997, <http://chronicle.com/article/For-Colleges-This-Is-Not-Just/27351/>, accessed in October 2015.
CARNEGIE Andrew, “The Gospel of Wealth”, North American Review, 1889, <https://www.carnegie.org/media/filer_public/ab/c9/abc9fb4b-dc86-4ce8-ae31-a983b9a326ed/ccny_essay_1889_thegospelofwealth.pdf>, accessed in October 2015.
CHRONICLE OF HIGHER EDUCATION, “Voluntary Support of Higher Education 1999-2000”, The Chronicle of Higher Education, May 4, 2001, <http://chronicle.com/article/Voluntary-Support-of-Higher/32467/>, accessed in October 2015.
CHRONICLE OF HIGHER EDUCATION, “Colleges and universities endowments, 2011-2012”, The Chronicle Almanac, 2012, <http://chronicle.com/article/CollegeUniversity/136933>, accessed in October 2015.
CHRONICLE OF HIGHER EDUCATION, “Colleges and universities endowments, 2006-2007”, The Chronicle of Higher Education, January, 10, 2015, <http://chronicle.com/premium/stats/endowments/results.php?offset=75&year=2008&sort=market&state=>, accessed in October 2014.
CONDON Bernard and VARDI Nathan, “How Harvard’s investing Superstars crashed: when genius fails it fails big”, Forbes, February 20, 2009, <http://www.forbes.com/2009/02/20/harvard-endowment-failed-business_harvard.html>, accessed in October 2015.
CONGRESSIONAL BUDGET OFFICE, Trends in the Distribution of Household Income from 1979 to 2007, October 2011, <http://cbo.gov/doc.cfm?index=12485>, accessed in October 2015.
CONLEY Aaron and TEMPEL Eugene, “Philanthropy”, in Douglas PRIEST and Edward St JOHN, Privatization and public universities, Bloomington : Indiana University Press, 2006.
COUNCIL FOR AID TO EDUCATION, Colleges and Universities raise $30.30 billion in 2011, Council for Aid to Education Press, February 15, 2012, <http://www.cae.org>, accessed in October 2015.
DUDERSTADT James, WOMACK Farris, Beyond the Crossroads:The Future of the Public University in America, Baltimore, Maryland : The Johns Hopkins University Press, 2003.
ESTERMANN Thomas and RUVOT Enora B., Financially Sustainable Universities II: European Universities Diversifying Income Streams, EUA publications, 2011.
EUROPEAN COMMISSION, Engaging philanthropy for University Research, Office for Official Publications in the European Communities, 2008.
EUROPEAN COMMISSION, Giving More for Research in Europe: Strengthening the role of philanthropy in the financing of research, Brussels, 27-28 March 2006.
EUROPEAN COMMISSION, Giving more for Research in Europe: The role of foundations and the non-profit sector in boosting R&D investment, Office for Official Publications in the European Communities, September 2005.
FARREL Elizabeth, “The Changing Face of Student Aid”, The Chronicle of Higher Education, April 4, 2008, <http://chronicle.com/article/The-Changing-Face-of-Student/34821/>, accessed in October 2015.
FREELAND Chrystia, “Lunch with the FT: David Swensen”, Financial Times, October 8, 2009, <http://www.ft.com/cms/s/0/dd91a3ec-b461-11de-bec8-00144feab49a.html>, accessed in October 2015.
GEIGER Roger, Research and Relevant Knowledge: American Research Universities since World War II, New York : Oxford University Press, 1993.
HALL Brian and LIM Jonathan, Incentive Pay for Portfolio Managers at Harvard Management Company, Harvard Business School Publishing, March 27, 2002.
HARVARD BUSINESS SCHOOL, “Yale University Investments office : July 2000”, Harvard Business School Case n°9-201-129, Boston: Harvard Business School Publishing, March 4, 2001.
HELLER Donald, “How Harvard foils its own good intentions”, The Chronicle of Higher Education, December 17, 2007, <http://chronicle.com/article/How-Harvard-Foils-Its-Own-Good/123526/>, accessed in October 2015.
HILTONSMITH Robert and DRAUT Tamara, The Great Cost Shift Continues: State Higher Education Funding after the Recession, Demos Report, Mars 2014. <http://www.demos.org/publication/great-cost-shift-continues-state-higher-education-funding-after-recession>, accessed in October 2015.
HOLLIS Ernest V., Philanthropic Foundations and Higher Education, New York: Columbia University Press, 1938.
HOOVER Eric, “Harvard’s new aid policy raises the stake”, The Chronicle of Higher Education, December 21, 2007, <http://chronicle.com/article/Harvards-New-Aid-Policy/5175/>, accessed in October 2015.
KARL Barry D., “Philanthropy and the Maintenance of Democratic Elites”, Minerva 35, 1997.
KATZ Stanley, “Philanthropy’s New Math”, The Chronicle of Higher Education, February 2, 2007, <http://chronicle.com/weekly/v53/i22/22b00601.htm>, accessed in October 2015.
KARKKAINEN Kira, Emergence of Private Higher Education Funding within the OECD area, CERI-OECD report, 2006, <http://www.oecd.org/education/skills-beyond-school/38621229.pdf>, accessed in October 2015.
LEWIN Tamar, Tamar Lewin, “Investment losses cause deep steep dip in university endowments”, New York Times, January 28, 2010. <http://www.nytimes.com/2010/01/28/education/28endow.html?_r=0>, accessed in October 2015.
LEWIN Tamar, “Report Says Stanford is First University to Raise $1 Billion in a Single Year”, The New York Times, February 20, 2013, <http://www.nytimes.com/2013/02/21/education/stanfords-fund-raising-topped-1-billion-in-2012.html?_r=1&>, accessed in October 2015.
MASSEYS-BERTONECHE Carole, « L’impact de la crise de 2008-2009 sur les grandes universités américaines », Ideas [En ligne], septembre 2013.
MASSEYS-BERTONECHE Carole, « Le financement des universités américaines : le rôle de la philanthropie et les limites de l’opposition entre public et privé », in HIRAUX Françoise and MIRGUET Françoise (Dir.), Finances, mobilités et projets d’éducation universitaires : le regard des historiens, Louvain-La-Neuve : Academia L’Harmattan, 2012.
MASSEYS-BERTONECHE Carole « Les réserves incommensurables des universités d’élite aux Etats-Unis : analyse historique et empirique de la notion d’endowment », in BAILLON Jean-François, BEGHAIN Véronique, LARRE Lionel, VEYRET Paul (Dir.), Paradoxes de la Réserve, Bordeaux : CLIMAS, 2011.
MASSEYS-BERTONECHE Carole, « Impact de la politique du président Nixon sur les relations entre la Maison Blanche et les universités d’élite : la mise en place de la discrimination positive », Politeia, n°14, 2008.
MASSEYS-BERTONECHE Carole, Philanthropie et grandes universités privées américaines : Pouvoir et réseaux d’influence, Bordeaux : Presses Universitaires de Bordeaux, 2006.
NEAVE Guy, “On incorporating the university”, Higher Education Policy, 2006.
PRIEST Douglas and St JOHN Edward, Privatization and Public Universities, Bloomington, Indiana: Indiana University Press, 2006.
PRUVOT Enora B., ESTERMANN Thomas, Define Thematic Report: Funding for Excellence, European University Association, December 2014, <http://www.eua.be/Libraries/Publication/DEFINE_Funding_for_Excellence.sflb.ashx>, accessed in January 2015.
ROELOFS Joan, “The Third Sector as a Protective Layer for Capitalism”, Monthly Review, vol. 45, n°4, September 1995, <http://archive.monthlyreview.org/index.php/mr/article/view/MR-047-04-1995-08_2>, accessed in October 2015.
ROSENFIELD Andrew M., “Understanding endowments,” Forbes, April 2009, <http://www.forbes.com/2009/03/03/harvard-university-investment-opinions-contributors_endowment.html>, accessed in October 2015.
SCHULTZ Thomas, “The Second Gilded Age : has America become an oligarchy”, The Spiegel, 28 October 2011, <http://www.spiegel.de/international/spiegel/0,1518,793896,00.html>, accessed in October 2015.
STROUT Erin, “U. of Virginia unexpectedly opens $3-Billion Campaign to become a ‘Private’ Public University”, The Chronicle of Higher Education, Tuesday, June 25, 2004. <http://chronicle.com/article/U-of-Virginia-Unexpectedly/9589/>, accessed in October 2015.
UCHITELLE Louis, “The Richest of the Rich, Proud of a New Gilded Age”, New York Times, July 15, 2007, <http://www.nytimes.com/2007/07/15/business/15gilded.html?pagewanted=all>, accessed in October 2015.
Haut de page
Notes
Philanthropic capitalism, as defined in this paper, differs from the concept of philanthrocapitalism that has been popularized by Matthew Bishop and Michael Green as the practice of applying business methods and measures to philanthropy. See Matthew Bishop and Michael Green, Philanthrocapitalism : How Giving can Save the World, New York, Bloomsbury Press, 2008.
Karl Barry, “Philanthropy and the Maintenance of Democratic Elites”, Minerva 35, 1997, 207.
To better understand the organization of the American Higher Education System, see The Chronicle of Higher Education, “2005 Carnegie Classification of Institutions of Higher Education,” The 2006-7 Almanac, vol.53, Issue 1, 35.
On the influence of Research Universities on American Higher Education, see Roger L. Geiger, To Advance Knowledge : The Growth of American Research Universities, 1900-1940, New York, Oxford University Press, 1986 and, from the same author, Research and Relevant Knowledge : American Research Universities since World War II, New York, Oxford University Press, 1993.
The for-profit institutions of higher education started to be created only in the 1970s. There are, therefore, not very many and none of them belongs to the top research universities.
The system of governance of American public universities is particularly complex and varies deeply from one state to the other. It is, therefore, impossible to do a general analysis for the whole higher education system. Hence, this paper focuses on the funding system of American universities rather than on their governance.
We have not mentioned income from auxiliary enterprises (e.g., athletics, dormitories, bookstores, meal services, and hospitals) because not all universities have these kinds of revenues.
See Carole Masseys-Bertonèche, Philanthropie et grandes universités privées américaines, PUB, 2006, 175, table 2.
See Carole Masseys-Bertonèche, « Impact de la politique du président Nixon sur les relations entre la Maison Blanche et les universités d’élite : la mise en place de la discrimination positive », Politeia, n°14, 2008.
See Carole Masseys-Bertonèche, Philanthropie et grandes universités privées américaines, PUB, 2006, 198-201.
Patrick Moynihan, “The Politics of Higher Education”, Daedalus vol.104, n°1, Winter 1975, 128-147, 146.
For a more detailed account on the evolution of the management of Harvard and Yale endowments, see Carole Masseys-Bertoneche, « Les réserves incommensurables des universités d’élite aux Etats-Unis », in Lionel Larré, Véronique Béghain, Jean-François Baillon, Paul Veyret, Paradoxes de la réserve, Climas, 2011, 215-227.
For more details on Yale endowment policy, see David Swensen, Pioneering Portfolio Management, New York, Free Press, 2000, Harvard Business School, “Yale University Investments office : July 2000”, Harvard Business School Case n°9-201-129, Boston, Harvard Business School Publishing, March 4, 2001.
Brian J. Hall, Jonathan P. Lim, Incentive Pay for Portfolio Managers at Harvard Management Company, Harvard Business School Publishing, March 27, 2002.
Ibid., 3.
Chronicle of Higher Education, “Colleges and universities endowments, 2006-2007”, The Chronicle of Higher Education, January, 10, 2015, <http://chronicle.com/premium/stats/endowments/results.php?offset=75&year=2008&sort=market&state=>, accessed in October 2014.
Chronicle of Higher Education, “Colleges and universities endowments, 2011-2012,” The Chronicle Almanac, 2012, <http://chronicle.com/article/CollegeUniversity/136933>, accessed in October 2015.
The Chronicle of Higher Education, “Voluntary Support of Higher Education 1999-2000”, The Chronicle of Higher Education, May 4, 2001, <http://chronicle.com/article/Voluntary-Support-of-Higher/32467/>, accessed in October 2015.
On the emergence of fund-raising at public universities, see Aaron Conley and Eugene R. Tempel, “Philanthropy,” in Douglas M. Priest and Edward P. St. John, Privatization and Public Universities, Indiana University Press, 2006.
Between 1978 and 1998 direct state appropriations as a portion of the total revenue of public universities declined by nearly 25 percent, see James J. Duderstadt and Farris W. Womack, Beyond the Crossroads: The Future of the Public University in America, The Johns Hopkins University Press, 2003, 103.
Erin Strout, “U. of Virginia unexpectledly opens $3-Billion Campaign to become a ‘Private’ Public University,” The Chronicle of Higher Education, Tuesday, June 25, 2004, <http://chronicle.com/article/U-of-Virginia-Unexpectedly/9589/>, accessed in October 2015.
Quoted in Priest and John, op. cit., 158.
“We used to be state-supported, then state-assisted, and now we are state-located,” explained Dr. James Duderstadt, former president of the University of Michigan, in David Breneman, “The privatization of public university: mistake or model ?” The Chronicle of Higher Education, March 7, 1997, <http://chronicle.com/article/For-Colleges-This-Is-Not-Just/27351/>, accessed in October 2015.
Harvard University Financial Report, Fiscal Year 2009.
Tamar Lewin, “Investment losses cause deep steep dip in university endowments”, New York Times, January 28, 2010, <http://www.nytimes.com/2010/01/28/education/28endow.html?_r=0>, accessed in October 2015.
Bernard Condon and Nathan VARDI, “How Harvard’s investing Superstars crashed: when genius fails it fails big”, Forbes, February 20, 2009, <http://www.forbes.com/2009/02/20/harvard-endowment-failed-business_harvard.html>, accessed in October 2015.
Chrystia Freeland, “Lunch with the FT : David Swensen”, Financial Times, October 8, 2009, <http://www.ft.com/cms/s/0/dd91a3ec-b461-11de-bec8-00144feab49a.html>, accessed in October 2015.
The Chronicle of Higher Education, “College and University of Endowments, 2010-2011”, The Chronicle of Higher Education, January 10, 2015, <http://chronicle.com/premium/stats/endowments/results.php?offset=0&year=2012&sort=market&state=>, accessed in October 2014.
Yale Financial Record, 2010-2011.
Harvard University Financial Report, Fiscal Year 2011.
Tamar Lewin, “Investment losses cause deep steep dip in university endowments”, New York Times, January 28, 2010. <http://www.nytimes.com/2010/01/28/education/28endow.html?_r=0>, accessed in October 2015.
Council for Aid to Education, Colleges and Universities raise $30.30 billion in 2011, Council for Aid to Education Press, February 15, 2012, <http://www.cae.org>, accessed in October 2015.
Andrew Carnegie, “The Gospel of Wealth,” North American Review, 1889, <https://www.carnegie.org/media/filer_public/ab/c9/abc9fb4b-dc86-4ce8-ae31-a983b9a326ed/ccny_essay_1889_thegospelofwealth.pdf>, accessed in October 2015.
See Ernest Victor Hollis, Philanthropic Foundations and Higher Education, Columbia University Press, 1938, 42.
Guy Neave, “On incorporating the university”, Higher Education Policy, 2006.
Thomas Estermann and Enora Bennetot Pruvot, Financially Sustainable Universities II : European universities diversifying income streams, EUA publications, 2011.
Congressional Budget Office. Trends in the Distribution of Household Income from 1979 to 2007, October 2011, <http://cbo.gov/doc.cfm?index=12485>, accessed in October 2015.
Stanley Katz, “Philanthropy’s New Math”, The Chronicle of Higher Education, February 2, 2007, <http://chronicle.com/weekly/v53/i22/22b00601.htm>, accessed in October 2015.
Thomas Schultz, “The Second Gilded Age: has America become an oligarchy,” The Spiegel, 28 October 2011, <http://www.spiegel.de/international/spiegel/0,1518,793896,00.html>, accessed in October 2015; Larry M. Bartels, Unequal Democray: the political economy of the new Gilded Age, Princeton University Press, 2008; Louis Uchitelle, “The Richest of the Rich, Proud of a New Gilded Age”, The New York Times, July 15, 2007.
“In 1890, when for the first time, the federal census calculated the distribution of the nation’s wealth, they found that 71 % of the nation’s wealth was held by 9 % of American families”, Ellen C. Lageman, Private Power for the Public Good : A History of the Carnegie Foundation for the Advancement of Teaching, Wesleyan University Press, 1983, 13.
Joan Roelofs, “The Third Sector as a Protective Layer for Capitalism”, Monthly Review, vol. 45, n°4, September 1995, <http://archive.monthlyreview.org/index.php/mr/article/view/MR-047-04-1995-08_2>, accessed in October 2015.
Enora Bennetot Pruvot and Thomas Estermann, Define Thematic Report: Funding for Excellence, European University Association, December 2014, <http://www.eua.be/Libraries/Publication/DEFINE_Funding_for_Excellence.sflb.ashx>, accessed in January 2015.
A league of European Research Universities (LERU), which is a consortium of some of the most renowned research universities in Europe, was founded in 2002 on the model of the Ivy League universities. In 2010, it expanded its membership to 21 universities. For more information, see : <http://www.leru.org/index.php/public/home/>, accessed in October 2015.
Haut de page