Speaking of Harvard Economists…
Posted on April 7th, 2012 in Uncategorized | 19 Comments »
…Larry Summers is being paid a lot for the use of his name and the occasional bon mot advising a start-up university currently known as “the Minerva Project.”
In its own words…
The Minerva Project is the first elite American University [sic] to be launched in a century. Minerva’s philosophy transforms every aspect of the university-student relationship in anticipation of students’ changing needs in an evolving world. Across a full life cycle of admission to instruction to post graduation [sic] support, The Minerva Project is rethinking the role of an elite institution of higher learning.
What does this rethinking involve?
Minerva says it will accept only really smart kids, “while giving no weight to lineage, athletic ability, state or country of origin, or capacity to donate.”
Since the Internet “will continue to see [sic] a proliferation of free, high quality knowledge available to all,” Minerva will “deliver only the most rigorous, analytical courses that will synthesize such knowledge to prepare students to thrive in the real world.”
[Blogger: Not sure what that means, but doesn’t sound good for sociology and Latin!]
Finally,
The Minerva Project will also commit substantial resources not only to career services for current students, but to supporting its alumni throughout their careers with academic programs, personal publicity….
Personal publicity?
Perhaps I am unfair and Larry Summers is really quite deeply involved in Minerva. After all, it does sound like Summers’ idea of a university that he’d like to attend: No sports, no social life, no fraternities, no parties, no legacy kids, no giving back to the university (but instead it promotes your personal publicity), and any subject that does not have “real world” relevance won’t be taught. (Sorry about that, Elisa New!)
(It occurs to me that if everything Larry Summers did not want in a university were made tangible, it would be the Winklevoss twins.)
Minerva is the purest distillation of Larry Summers’ vision for Harvard back when he was president.
And you wonder why that didn’t work out.
But Minerva still has some kinks to resolve. For example, below is the seal of this new “university.” Note that its name and motto are written in a language that Minerva won’t actually be teaching.
Latin: It’s good for personal publicity!
What the Minerva website doesn’t tell you is that this is an online, for-profit venture backed by New York venture capital firm Benchmark Capital. Though it claims to be recruiting professors, its courses for the foreseeable future will consist of online videos, over which students are supposed to video-chat. Good luck with that.
The founder of Minerva is a guy named Ben Nelson, the former CEO of an online picture hosting site—never particularly successful, now owned by Hewlett-Packard—called Snapfish. (Never used it? Me neither.)
Nelson’s educational credentials are, well, slim: He has an undergraduate degree in economics and marketing from U-Penn.
Here’s a little snippet from an interview the San Jose Mercury News did with Nelson:
Q: Tell me how Minerva will work as an online-only school.
A: We simply cannot do it offline. You can’t aggregate that many great professors — or students — in one location. Offline classrooms have far too many limitations. You have lectures and recitations, and separately, seminars. Three days later you ask someone what you didn’t understand three days earlier. At Minerva, lectures and seminars will be melded together. We’ll have at-large lectures, where 25 students will simultaneously watch a class with a live professor, professors who are known to specialize in inspirational teaching, not just research. When someone raises their [sic] hand, the lecture pauses. The webcams come on, and students and professors engage in a debate. The seminars will be recorded and assessed, and will be part of how students will be evaluated.
The webcams come on! Ooh! Exciting!
I love the idea of Larry Summers giving an online lecture and then having to pause every time someone raises his or her hand.
Asked what courses Minerva will offer, Nelson says:
We’ll offer degrees in humanities, social science, computer science and business — what you’d find at Harvard or Wharton or MIT or Caltech. But we won’t have foreign-language majors. We won’t bother to charge students for stuff they can get for free elsewhere..
Huh?
Harvard will survive this. At the same time, universities such as Harvard and Yale would do well to continue reminding the world of their many virtues, because projects like this are good at pointing out where traditional universities fail, but are so oblivious to where they succeed…
19 Responses
4/7/2024 10:12 am
Pretty hilarious. It’s a good thing they won’t be teaching foreign languages. That way none of the students will know they’re at Minerva’s University as the logo says (you’re supposed to use an adjective). And sapientia critica, if it means anything, means “literary critical wisdom”, which doesn’t look likely at the old MP.
4/7/2024 4:26 pm
Praeses Lawrence Aestas Avari cum magna ego
4/7/2024 4:39 pm
Persons holding full-time academic appointments at Harvard should devote their teaching efforts primarily to the education of Harvard students. Faculty members may not hold a regular faculty appointment at another institution, except in connection with a Harvard-sponsored joint program with that institution, or similar arrangement as approved by their Dean. They should not teach a course, or a substantial portion of a course, at or for another institution or organization without the advance permission of their Dean and the Corporation. This policy should be followed regardless of whether the activity is conducted in person or through some form of electronic communication. …
That the considerations extend beyond the element of time is worth emphasizing when new technologies make it possible to teach vast numbers of students dispersed across the country and around the world without leaving one’s own campus and with a comparatively modest investment of time. Modern technology enables a faculty member to videotape an entire course in a short period of time, and to make the resulting materials available to an educational organization for its own exclusive purposes or for licensing to other organizations for presentation in classrooms, on-line, or through other media. The fact that the course materials could be produced during a vacation or “after hours” does not allay the concern that such arrange ments may conflict with professional obligations to Harvard and its students. A Harvard academic appointee should therefore not participate in teaching courses for another institution or organization in these direct or indirect ways without express permission of the Dean of the Faculty and of the Corporation. …
Full-time appointees should not engage in paid consulting for another educational institution or educational organization without the permission of their Dean and the Corporation.
— Statement on Outside Activities of Holders of Academic Appointments
4/7/2024 4:45 pm
Praeses Laurentis Aestes facit quod vult et Praeses Faust potest non aliquid de
4/7/2024 4:47 pm
Praeses Aestes est vivere expressio academicorum corruptionem
4/7/2024 6:34 pm
Good sentiments, but bad Latin, all three. These should not distract from the last sentence in particular of Harry’s post:
Full-time appointees should not engage in paid consulting for another educational institution or educational organization without the permission of their Dean and the Corporation.
4/7/2024 7:12 pm
Any thoughts about Drew Faust’s joining the board of Staples? See http://www.boston.com/Boston/businessupdates/2012/04/staples-nominates-harvard-president-drew-faust-for-board-post/WE6pWcPbLO77CwBIuXqr1N/index.html.
4/7/2024 7:42 pm
I am pleasantly startled by the link to Prof. New’s first book. It won me to her as a steadfast admirer, and influenced my work for a decade. (Cambridge UP seems to have behaved badly toward it, and this price point is only the latest manifestation of that fact.)
If you have the means I highly recommend picking up a copy. If you don’t, baruch Hashem there are university libraries that belong to real-world universities.
What she does with “Rose Pogonias” — so good!
Richard, thanks for the flashback, reenacting the surprise of discovering this amazingly well-sustained, learned, and beautiful essay.
Here’s to more such surprises in whatever institutional context, in perpetuity.
SE
4/7/2024 8:42 pm
I don’t understand why faculty and administrators are allowed to serve on the boards or consult for non-educational organizations, whether they are Staples or Hedge Funds or any other commercial enterprise, but not for educational organizations… shouldn’t they be more qualified from engaging with educational organizations?
“Full-time appointees should not engage in paid consulting for another educational institution or educational organization without the permission of their Dean and the Corporation.”
At HBS it is common practice, and a sign of distinction, for faculty to be on boards of corporations. In fact, this is perceived as an opportunity to gain relevant experience on the very issues faculty are supposed to teach about. Why couldn’t Larry Summers experience w/ Minerva similarly allow him to gain valuable experience, relevant to his teaching at Harvard? seems more valuable than working for D.E. Shaw.
4/7/2024 8:47 pm
at the Kennedy School participation of faculty on boards is also valued
http://www.abtassociates.com/About-Us/Our-People/Board-of-Directors/David-T-Ellwood,-Ph-D-.aspx
4/7/2024 10:00 pm
Anonymous, it makes a big difference. Yes, professors are allowed and even encouraged to gain real world experience in their areas of expertise. But not for doing the same work they could and should be doing for Harvard as part of their university responsibilities. I have served as chair of a committee that plans distance education at Harvard. I could have declined to do that; I certainly had plenty of other ways to spend the hours. But I was asked and I figured I owed Harvard my relevant expertise, and moreover I want Harvard to succeed in whatever it does in this arena. Summers, while still a Harvard professor, chairs a planning committee for a for-profit university that has announced that it plans to be a direct competitor to the likes of Harvard.
4/8/2024 10:16 am
RT: Those were all your graduate students who used the bad Latin:)
I find it very disconcerting that things have changed so much at Harvard, that The President now believes that it is acceptable to serve on a corporate board. There used to be an unwritten rule that administrators would not serve on corporate boards of public corporations. I know for a fact that it was highly discouraged and, as far as I know, no administrator served on a public corporate board (please correct me if I am wrong).
President Simmons of Brown was criticized, and rightly so, for her board work. She had few, if any, qualifications for some of her boards. As she finally said, she was on the boards for reasons that had little to do with governance. If you had put President Simmons in a room and had asked her questions about the financial aspects and operations of some of the companies she “governed”, I daresay she would not have been able to have been coherent.
Now we have another situation with regard to Staples. “Dr. Faust has extensive leadership and management experience related to capital planning, financial oversight, risk management, technology, and strategy.” I beg to differ with regard to relevant experience and meaningful oversight. Board governance, if done well, takes an enormous amount of time (if not done well, a board position is essentially a sinecure). What aspects of the university are going to suffer?
4/8/2024 11:18 am
Not so, Sam, on the Latin.
On the Staples front let’s wait and see. If Harvard stays with OfficeMax (its current vendor) that might be a good message. If not . . .
4/8/2024 11:30 am
Harry, the points you make are very reasonable. It’s not evident that Minerva will steal any applicant away from Harvard for some time, but who knows? perhaps LHS will be more successful there than he was at Harvard.
4/8/2024 11:37 am
Sam, it sounds as if you are concerned for the ethical implications of a HU President serving on a corporate board… what does it teach students about loyalty and ethics? another concern, equally serious, would be impact on Harvard’s brand of any scandal on the corporation on whose board Harvard President serves.
Imagine what could have happened to an HBS Professor if he had not been tipped off, and resigned immediately from the board… in all likelihood he would have spent some time in jail and substantial time and fees on litigation
http://articles.economictimes.indiatimes.com/2009-04-17/news/27650696_1_sfio-report-satyam-board-member-satyam-scandal
4/8/2024 11:59 am
It is a nice business model for Minerva to have Harvard pay salary and most of health insurance, and provide an office or two, a low interest mortgage and zero-interest educational loans, to the head of the planning board for a private business that intends to compete with Harvard. I suppose the way Harvard might level the playing field is to pay Summers a consulting fee to get his services? It does hire consultants, after all.
4/8/2024 12:34 pm
@Anon 11:37
I have absolutely no idea of what you mean when you say “it sounds as if you are concerned for the ethical implications of a HU President serving on a corporate board… what does it teach students about loyalty and ethics?”
My thought was strictly about the qualifications of President Faust to sit on a public corporate board, particularly with regard to financial oversight and risk management. I don’t say it specifically with regard to President Faust but rather as a generalization of who should not sit on a public corporate board… political correctness be damned.
As far as any ethical problems, from what I know about Drew Faust, there cannot possibly be any problem in the future with that. She is as fine a person in that respect as anyone can be.
4/8/2024 1:41 pm
Simmons is a piker by comparison with Shirley Ann Jackson of RPI. From her official home page: “Dr. Jackson chairs the New York Stock Exchange Regulation Board. She serves on the Board of Regents of the Smithsonian Institution and as a director of IBM Corporation, FedEx Corporation, Marathon Oil Corporation, Medtronic Inc., and Public Service Enterprise Group Incorporated. She is a Member of the Board of the Council on Foreign Relations, and serves as a Trustee of the Brookings Institution. She also serves as the University Vice Chairman of the U.S. Council on Competitiveness, and co-chaired the Council’s Energy Security, Sustainability, and Innovation (ESIS) initiative.”
4/8/2024 4:41 pm
Such stuff as dreams are made on: a virtual university still in the planning stages lacking students, faculty, curricula, accreditation, alumni or alumnae, and with no record of performance or influence, describes itself as “elite.” A paltry adjective for so lofty a profit-making venture.