Who’s the Help?

Henry Blodget:

Ron Unz of the American Conservative posits that 375-year old Harvard University has grown so rich that it is now essentially a giant hedge fund with a little school attached.

The evidence:

Harvard’s endowment is now back over $30 billion.

To manage this endowment, Harvard employs a platoon of hedge fund managers who are paid like, well, hedge fund managers.

Just the top 5 of these hedge fund managers, Unz reports, recently took home $78 million in a single year.

That’s $16 million apiece.

Harvard’s full professors, meanwhile–all 450 of them–take home $85 million a year.

That’s $188,000 apiece.

Not much question about who’s “the help” in this arrangement.