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Money Problems? Look to Your Academic Portfolios.

What college or university doesn’t have money problems these days?  We’ve seen such problems before but this time they’re deeper and more acute.  In the “good old days,” such as the stagflation of the 1970s and the economic recessions of the 80s, 90s, and 2008, the solutions involved a grab-bag of common-sense actions based on relatively crude information. These include:  cutting fixed percentages of cost from administrative and support services, pressing upwards on class sizes and teaching loads, substituting adjunct for regular faculty wherever possible, and hacking away at small classes.  In today’s environment, however, the sufficiency of these actions seems doubtful because of the depth of the money problems and because the low-hanging fruit already has been depleted by years of belt-tightening.

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