We know how bad most American Universities are at providing intelligent political, historical and economic discourse for their students. Thanks to Bernie Marcus, co-founder of Home Depot, that is going to change.
Here is Naomi Riley in the Wall Street Journal:
"How can donors be sure that the money they give will go to fund the things they want? Mr. Marcus says it is time to hold administrators' feet to the fire. Along with John M. Templeton Jr. and the John William Pope Foundation, Mr. Marcus has provided the seed money ($5 million) for the Center for Excellence in Higher Education (CEHE). The Indianapolis-based center, launched last month, aims to help donors "use philanthropy as a lever to reform higher education," says Frederic Fransen, its executive director. Reform includes a greater emphasis on core curricula, a free-market understanding of economics, a more balanced approach to politics, affordable tuition, tenured faculty who spend more time in the classroom, greater transparency in university governance, and an end to grade inflation.
"For a buck, universities would do anything," Mr. Marcus said in a recent interview. "We are seeing more anti-Western, anti-Israel and anti-democracy sentiment on campus" these days, he observed, adding wryly, "The Saudis are paying an enormous amount of money for that." Mr. Marcus would like to compete. He has found, unfortunately, that the universities are generally hostile to the economic and political system that has allowed businessmen like him to thrive. "My success in life is because of free enterprise," he says. But "colleges don't teach this." And the tales of Mr. Bass and the Robertsons give Mr. Marcus and his cohort pause.
"University administrations have often ignored "donor intent" when spending the proceeds from a particular gift. And thanks to an antiquated hiring system and a faculty that will scream "infringement on academic freedom" any time an outsider tries to exert some influence, the problems in higher education have become entrenched.
"There are donors with the money to get around these problems -- to create entirely new schools or departments within a university. But how do you get a university to agree to, say, starting a separate school devoted to the study of free enterprise? And make sure they'll stick to the plan once they cash your check? CEHE will help donors (free of charge) craft contracts with universities to ensure their money is used properly. It will also perform due diligence on these gifts once the agreement is complete."