How Harvard Minted ‘Free Money’


By Stephen Mihm – In the mid-19th century, most Ivy League presidents hailed from the ranks of the Protestant clergy: affable theologians with considerable academic training and limited knowledge of financial matters.

Enter Charles W. Eliot [2], Harvard’s 21st president. When he took over in 1869, it was a sleepy little college. By the time he left in 1909, he had bequeathed an educational powerhouse that had established an almost insurmountable lead in the race to become the world’s richest university. more> http://tinyurl.com/q6o4k28

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