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It's a sane reason to dislike the Anglo-American tradition of clinging to rheumatoid institutions that turn A into B when what you need is something that turns A into C. But look, they say, enough of the C's you get are B's as well, or there's a second institution that turns B into C as a side effect, or B and C are interchangeable in current conditions.
But then something changes, and everyone starts to cry about how inefficient the institution is, we need 10 of C, but it's producing only 8 of them, we need to fix it to make more B. Fuck no, you don't need it to make B, you need a different institution to make C!
It's not a revelation that the Ivies dislike Asian students because they are not donating as alumni. But you know what they should do? Use projected total donations as the admission criterion. Hire some actuaries and build a table that estimates how much every applicant is likely to earn and how big of a share of their total lifetime earning they are likely to donate to Harvard and admit the most profitable applicants. Oh, a future high earner claims to be unfairly judged to be stingy? No problem, they can sign a contract with the university and get a donation-sized price of admission.
What about the prestige of the institution? Well, come up with a figure of how much money you are willing to sacrifice and make your admission essays about the ways in which the student will glorify the existence of your university.
Oh no, such primitive, mercantile approach is ruining the vibes-based reputation of your institution? Tough fucking luck. Oh no, other colleges that promise the best education for the least amount of money are stealing the brightest applicants? Mission fucking accomplished.
That would be telling; it would be common knowledge that they were just a self-licking ice-cream cone at that point and they would lose their prestige. They have to pretend to be something else.
I feel like this complaint is aptly addressed in the closing paragraph.
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There are a lot of (I assume) illegal contract types that could make this easier. I wonder how admissions would change if Harvard demanded 5% of lifetime earnings of all its students, maybe with a billionaire heir waiver in exchange for a one-time $50m donation.
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