Via Tyler Cowen and Chris Blattman an op-ed about the madness of donating more money to Harvard's already-giant endowment (various other private universities also work here) rather than focusing your giving on causes that will actually help people in need.

A university that rich ought to either embark on some kind of ambitious expansion program and start educating substantially more students, or else decide that it would unduly alter the character of the place to expand that much and just close up the development department and enjoy the luxury of being able to focus single-mindedly on the university's core teaching and research functions.

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