Veteran commenter Tim Levier comes to the defense (sort of) of both Harvard and nuance.

Here is his Comment of the Day on the post, “You Know, Harvard, When You Have To be Embarrassed And Shamed Into Doing What Should Have Been Your Automatic Response Anyway If You Had Any Decency, It’s Too Late To Save Face.”

Can I play Devil’s Advocate here? (Maybe just devil’s half-advocate.) I mean, I think it’s delicious that Harvard is getting a first hand experience in “political correctness”, “public shaming”, and “fake news” all in one fell swoop; but this is an Ethics site and saying the truth should always be ethical.

Harvard’s endowment is $38.3 billion, but what does that mean? Endowments are donations intended not for the donation to be “used” but for the donation to be “invested”. The investment grows and pays income distributions to the target recipient. Sure, Harvard has an endowment of $38.3 billion, but that generates an annual distribution of roughly $1.9 billion. That’s a distribution during “good times”. Any bets out there that the distribution might crater this year?

Let’s assume it doesn’t. The $1.9 billion distribution is roughly 1/3rd of Harvard’s annual operating budget. That’s money that they were counting on, budgeted, and spent. Continue reading →